Atal Pension Yojana: While on one hand there are many people who live for the present, that is, they spend their earnings today, on the other hand, there are many who worry about their future. Therefore, people save.
While it’s no secret that everyone should have enough money to save, if you wish, you can make small investments each month to secure a pension for yourself in old age. Yes, and this is possible through the Atal Pension Yojana, which provides a monthly pension of up to Rs 5,000 after the age of 60. But be sure to check whether you’re eligible for this scheme. You can learn about eligibility in this article.
What is Atal Pension Yojana?
The objective of Atal Pension Yojana is to provide financial assistance to people in their old age. For this, you have to first make small investments every month for at least 20 years. For example, an 18-year-old person paying Rs 210 per month (for at least 20 years) gets a pension of Rs 5,000 per month after the age of 60.Similarly, a person aged 30 years gets the benefit of a pension of Rs 5000 every month by investing Rs 577 every month. In this scheme, one has to invest for at least 20 years first. You can apply for this scheme by visiting your bank branch.
Who are eligible for Atal Pension Yojana?
- People who are citizens of India
- Those who are between 18 and 40 years of age
- People who pay taxes i.e. are in the category of taxpayers
- People who have a bank account
How to join Atal Pension Yojana?
- First, visit your bank branch.
- Here your KYC is done first.
- Then you will be given information about the plan and premium etc.
- After this your bank account is linked to the scheme
- Your application is then completed and you are given a slip.