Tuesday , June 18 2024

Who can apply for Atal Pension Yojana, know here!

The central government continuously brings various schemes for the welfare of common citizens. The government has started the pension scheme keeping in mind the future of the general public. Atal Pension Yojana was started by Prime Minister Narendra Modi's government in 2015. To avail the benefits of this scheme, offline application can be made. This scheme acts as a savings plan for the future of the citizens. Let us understand the process and eligibility criteria to avail the benefits.

Who can avail the benefits of the scheme?

Atal Pension Yojana, run by the central government, is available only to Indian citizens. To avail the benefits of this scheme, the age of individuals should be between 18 to 40 years. Participants are required to invest in the scheme for a minimum of 20 years. This scheme is especially for those individuals who do not pay income tax. People who come under income tax bracket are not eligible for this scheme. Under this scheme, pension provision is made after the age of 60 years after an investment period of 20 years. This scheme offers a guaranteed minimum pension ranging from Rs 1000 to Rs 5000. Applicants must have a bank account and link it to their Aadhar card to avail the benefits.

how to apply?

Applicants cannot apply online to avail the benefits of Atal Pension Yojana. The application process will have to be completed offline only. Application forms are available in all nationalized banks. Applicants can download the form from the official website of the scheme. After filling the form, it will have to be submitted to the bank along with the copy of Aadhar card.