Atal Pension Yojana SBI Online Registration process is now very easy. individuals Can join APY through SBI Internet Banking. Apart from this people can also apply for that scheme offline. In this case to enrol APY SBI applicant should go to the nearest SBI Branch and fill the desired form.
State Bank of India (SBI) allows one to register for the Atal Pension Yojana that provides the subscriber earn a pension every month after turning 60 years old. Let us quickly take a brief idea of the Atal Pension Yojana.
What is Atal Pension Yojana SBI
The Atal Pension Yojana SBI is nothing but is the same as APY which is can be filled up by SBI Bank. Atal Pension Yojana was first announced in the 2015-2016 Budget. after the age of 6o years of the beneficiaries, an amount ranging from Rs 1000 to Rs 5000 will be given as pension under this Scheme.
This scheme is handled and regulated by the Pension Funds Regulatory Authority of India. Individuals who are in the unorganized sector will be benefited from this scheme.
The Atal Pension Yojana SBI beneficiaries will receive this amount on a monthly payment basis if they have completed Atal Pension Yojana SBI Online Registration If the beneficiary passes away, In that case, the Spouse of the beneficiary will continue to receive the pension benefits. If both of beneficiary and spouse Passes away, then the deceased beneficiary’s nominee will obtain the amount in the lump sum.
What are the Benefits & Features of Atal Pension Yojana SBI?
Benefits & Features of Atal Pension Yojana SBI are listed below :
The Below Mention Features and Benefit may attract you to Atal Pension Yojana SBI Online Registration
- Atal pension yojana (APY), a pension scheme for citizens of India, is focused on the unorganized sector workers which is administered by Pension Fund Regulatory & Development Authority (PFDRA)
- Every citizen of India age between of 18-40 years can enrol Atal Pension Yojana SBI. To get this pension facility Benificiary should required to contribute the premium at least 20 Years.
- Under SBI Atal Pension Yojana scheme, the subscriber can easily choose a pension amount of teir choice on the basis of which the monthly contribution they need for the pension scheme.
- Under Atal Pension Yojana SBI , from Rs 1000 to Rs 5000 will be provided as a pension by the central government only after the completion of 60 years of age.
- The contributions can be made at monthly / quarterly / half yearly intervals through auto-debit facility from savings bank account of the subscriber. To maintain this facility you have to opt Atal Pension Yojana SBI Online Registration
- Central Government guaranteed minimum pension amount to the spouse: After the subscriber’s demise, the spouse of the subscriber shall be entitled to receive the same pension amount as that of the subscriber until the death of the spouse.
- All existing members of the now defunct Swavalamban scheme will be migrated to the APY
- You can only able to apply for 1 Atal Pension Yojana SBI Online Registration account
- If you eligible to Atal Pension Yojana SBI , then government contribution applicable for a period of 5 yrs.
- Under Section 80CCD, individuals are eligible for to get tax benefit.
- Private sector employees who are not provided any pension benefits are also allowed to apply for Atal Pension Yojana scheme.
- At the same time, people who are 40 years old will have to pay a premium of Rs 297 to Rs 1,454. Only after that he can take advantage of APY 2021 .
Eligibility Criteria for SBI Atal Pension Yojana
The eligibility of Atal Pension Yojana that may create interest for Atal Pension Yojana SBI Online Registration are mentioned below:
- Individuals must be an Indian citizen.
- Applicant be between the ages of 18 and 40 years.
- The applicant should have an active SBI bank account.
- Up to date KYC Information
- Aadhar and mobile number are recommended to be obtained from subscribers for the ease of operation of the scheme.
5 Types of investment plan for the Atal Pension Yojana SBI You Should Know
Before you go for the Atal Pension Yojana SBI Online Registration process know the APY investment Plan
|Type of Investment||Quantum of Investment|
|Government Securities||45% to 50%|
|Term deposits of banks and debt securities||35% to 45%|
|Equity and equity-related instruments||5% to 15%|
|Asset-Backed Securities and so on||Up to 5%|
|Money Market Instruments||Up to 5%|
To Know More visit Atal Pension Yojana Chart
How much Penalty need for Default and Discontinuation of Atal Pension Scheme SBI
The Penalty need for the Default and Discontinuation of the Atal Pension Scheme SBI depends on Various conditions. This Scheme rule has a contribution process subscribers are required to ensure contributions on a monthly basis. If you fail to maintain the premium then you have to pay some extra penny.
Below SBI APY chart may give you an idea about the penalty charge for the discontinuation
- Rs.1 per month if the subscriber’s contribution is up to Rs.100 per month.
- Rs.2 per month if the contribution ranges from Rs.101 to Rs.500.
- Rs.5 per month if the contribution ranges from Rs.501 to Rs.1,000.
- Rs.10 per month for all contributions whose value is beyond Rs.1000 each month.
If no payment is received into the account for 6 months or more, the pension account will be frozen. If this continues for 12 months or more, the pension account will be considered dormant and closed by the authorities.
Atal Pension Yojana SBI Online Registration
SBI Account Holders Can Get Rs 5000 Pension/Month Under Atal Yojana. For That, You have to apply for Atal Pension Yojana in SBI. State Bank of India (SBI) come up with the option of opening the Atal Pension Yojana (APY)Scheme online through their internet banking account.
How to Open Atal Pension Yojana Account Online in SBI?
To open the Atal Pension Yojana account online in SBI follow the listed below steps:
1. First you Need Internet banking facilites of SBI Banking
To Avail Atal Pension Yojana SBI Benefits you need to signup or login to the SBI Internet Banking home page
2. Registration Process
Go to the SBI Online Page. Hover your mouse into personal banking click the Login button. Put the login credential OTP come to your Registered Mobile No. Enter OTP and click Submit to enter SBI online banking dashboard. From Menu Choose e-Service Under E-service Click on “Social Security Scheme (PMJJBY/PMSBY/APY) Select Atal Pension Yojana (APY) from the drop-down menu and click submit
3. Put Your Credential into the desired field
Put your bank details Premium Details. Please note that the premium contribution will be selected automatically according to your date of birth. Enter Personal details like Name, Mobile No, Permanent Address, Email ID, Nominee Details.
4. Link Your Mobile Number
Choose the SMS alert option to receive the details about the sum contributed each month.
5. Generation of PRAN
When APY form is submitted online, you received an acknowledgement receipt. Download that receipt for future reference. on the successful registration. The PRAN number will be generated and this will serve as the reference number in the coming times.
What is the full form of PRAN
The full form of PRAN is the Permanent Retirement Account Number. PRAN is the unique and portable number allotted for all NPS and APY subscribers. On successful registration Process of APY or NPS, a PRAN (Permanent Retirement Account Number ) has been generated against each beneficiary. The PRAN number and account of Atal Pension Yojana is maintained with the PFRDA.
Note: At Present the beneficiery can not able to access the balance of the APY account online though it can be accessed through branch only.
Atal Pension Yojana Helpline No
- For any assistance regarding APY One can Contact Toll Free No 1800 110 069