Senior Citizen Saving Scheme: Get fixed pension of ₹5000 by depositing just ₹210 per month

By investing in Atal Pension Yojana (APY), get a fixed pension of ₹1000 to ₹5000 every month after the age of 60 years. After death, the pension is given to the spouse and then the nominee gets the entire amount. This government scheme is very beneficial for a secure retirement

Atal Pension Scheme Investment: Atal Pension Yojana is a support for those who worry about regular income for old age. Yes, the aim of this scheme started by the central government is to give pension of ₹ 1,000 to ₹ 5,000 every month to needy and low-income citizens after the age of 60 years. Any citizen between the age of 18 to 40 years can join this scheme and deposit a fixed amount every month, the government also contributes some amount which strengthens the fund.

Income will continue after retirement

If you want to continue your income even after retirement, then Atal Pension Yojana is a great option. Through this scheme, after the age of 60, you get a pension of ₹ 1,000 to ₹ 5,000 every month, but this pension depends on how much money is deposited in the scheme. If we assume that a customer dies, then this pension is given to his husband or wife. Apart from this, if both die, then all the money will be in the hands of the nominee.

Easy way to get pension of 5000 rupees per month

By depositing a small amount every month in Atal Pension Yojana (APY), you can get a pension of up to Rs 5000 after retirement. For example, let’s assume that if you are 18 years old and you invest only Rs 7 per day i.e. ₹ 210 per month, then after the age of 60, you can get a pension of ₹ 5000 every month. You can get the benefit of ₹ 1000 pension by investing only ₹ 42 monthly. Investment is necessary for at least 20 years in this scheme. Even if you start investing at the age of 40, you will start getting pension at the age of 60.

What is the eligibility for the scheme?

Some important conditions have been fixed to join Atal Pension Yojana. To apply in this scheme, the age of the person should be at least 18 years and maximum 40 years. Apart from this, the applicant must have an active bank account, which should be linked to Aadhar card and KYC and only Indian citizens can get the benefit of this scheme.

How to apply for Atal Pension Yojana?

If you want to take advantage of Atal Pension Yojana, then its process is very easy. Follow the steps given below carefully. First of all, go to your nearest bank branch and get the Atal Pension Yojana form and fill it. Fill in the information asked in the form like name, age, Aadhaar number, bank account details etc. and attach the necessary documents. Then after submitting the form, the bank officials will verify your information. Not only this, during this time you will be asked which pension scheme you want to choose from ₹ 1000 to ₹ 5000. After successful completion of the process, your account will be linked to the scheme. (Note: This article is for information only and should not be considered as investment advice in any way, suggest consulting financial advisors for investment)

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