Atal Pension Yojana (APY) is a Government of India Scheme Administered By PFRDA through NPS.
A defined pension system specially for the poor and the under privileged depending on the contribution, and its period.
The objective of the APY is to encourage the persons to save small amounts during their productive years to enable them to draw a pension in old age
ATAL PENSION YOJANA (APY)
|Interest Rate||SB interest rate in maintained SB|
|Minimum Balance Requirement||No|
|Auto Sweep Available||No|
|Basic Banking facility||Applicable|
|Eligibility Criteria||Any resident individual
Production of KYC document
The minimum age of 18 years and maximum 40 years
|Benefits (as per scheme)||Minimum Pension guarantee for the subscribers
The subscribers are required to opt for a fixed monthly pension from Rs.1000 to 5000 and ensure payment of stipulated contribution regularly. (from chart)
|Others||The age of exit and start of pension would be 60 years.
Minimum period of contribution by the subscriber under APY would be 20 years or more.