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Atal Pension Yojana in SBI

One of the most popular government schemes for social security in India these days is Atal Pension Yojana.  Launched in the name of Ex-PM Atal Bihari Vajpayee, the scheme offers a monthly pension for individuals who are not entitled to any other social security.  In this, these individuals have to contribute a fixed amount every month till they are at the age of 60 years and start getting their pension every month after that.

The scheme was implemented in India effective 01st June 2015 by the Prime Minister Narendra Modi.  In order to be eligible for the scheme, a person should be Indian national and should be between the age group of 18 to 40 years.

Atal Pension Yojana in SBI

As a matter of fact, a majority of people in India have their saving accounts in State Bank of India and this why this article becomes quite relevant when it comes to Atal Pension Yojana.  If you wish to open an account with Atal Pension Yojana in State Bank of India, you would need to do the following:

  • Download the Atal Pension Yojana Form from SBI’s official website or get it in hard copy from any branch of SBI
  • Fill the form with neat handwriting and ensure that all information provided is true and accurate
  • Although, it is not mandatory to have an Aadhar number for subscribing to Atal Pension Yojana, still it is better if you can attach your Aadhar card copy with the form.
  • While you fill up the form, you would be required to choose the pension amount you wish to get after 60 years of age. Once you have decided on the amount of pension, you would come to know what premium you would have to contribute every year.
  • There would be a section in the form which would ask you for your saving account number. If you do not have a saving account number, you can get it opened in the same branch in normal condition or under Jan Dhan Yojana.
  • Based on the pension amount that you opt for, you premium every month would be deducted from your saving account automatically. This, you would have to consent in the form that you fill for the scheme.
  • Once you have filled all of these, you can enquire the executive at the bank if they need any additional document with the form and they would help you complete the formalities.

We hope that this piece of information has been relevant for you in knowing how to subscribe to Atal Pension Yojana in SBI.  For more details on Atal Pension Yojana, you can check our detailed articles on the scheme.

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