Atal Pension Yojana: People start worrying about their retirement while they are still working. That is why people make a complete plan for their savings. So that they do not have to depend on anyone else at the time of retirement. The Government of India runs many such schemes for the people of the country. By investing in these schemes, people do not have to worry about their retirement.
One such scheme is run by the Government of India, which is called Atal Pension Yojana. Crores of people of India are taking advantage of this scheme which was started on 9 May 2015. A very nominal amount has to be contributed in Atal Pension Yojana. And after 60 years, a pension of up to Rs 5000 is received every month. What is its process and what is the premium.
This much investment has to be made
In Atal Pension Yojana, the pension amount is decided on the basis of investment. That is, the sooner someone starts investing, the less premium he has to pay. For an amount ranging from Rs 1000 to Rs 5000, one has to deposit Rs 42 to Rs 200 per month in the scheme. If someone invests late, then the premium amount increases. That is, if someone starts investing in it after the age of 40, then he has to deposit Rs 291 to Rs 1454 per month. Then he gets a pension ranging from Rs 1000 to Rs 5000.
Who can invest in the scheme?
To avail the benefits of Atal Pension Yojana, the beneficiaries must be citizens of India. The age of the applicant should be between 18 years to 40 years. It is necessary to invest in the scheme for at least 20 years. The applicant must also have a bank account linked to the Aadhar card. Along with this, there should also be a valid mobile number.
How can you apply?
Application in Atal Pension Yojana can be done both online and offline. To apply online, anyone can open an account in Atal Pension Yojana under the net banking profile of their bank. Whereas to apply in offline scheme, you will have to go to your bank or post office where you have a savings account, you will have to fill the form of the scheme there. Along with that, you will also have to submit photocopies of the related documents. Let us tell you that in this scheme you also get tax savings of up to one and a half lakhs under section 80C.