Atal Pension Yojana: 8 lakh new subscribers enrolled via SBI in 5 months

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Nearly 8 lakh new subscribers have joined Atal Pension Yojana (APY) via State Bank of India (SBI) during 201-22 so far. As per data released by Pension Fund Regulatory and Development Authority (PFRDA), the number of APY subscribers crossed the 3.30 crore mark by August 25. Public sector banks accounted for the highest number of APY subscribers at over 2.33 crore, as per PFRDA data. It was followed by regional rural banks (61.32 lakh), private banks (20.64 lakh), small finance banks and payment banks combined (10.78 lakh), Department of Posts (3.40 lakh) and cooperative banks (84,627).

The country’s top lender is in the first position with 7,99,428 subscribers. This data is from 1 April 2021 to 24 August 2021.

Canara Bank, Airtel Payments Bank, Bank of Baroda followed SBI with more than 2 lakh APY enrolments each during the period.

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Union Bank of India, Bank of India, Indian Bank, Central Bank of India and Punjab National Bank were among the top banks, garnering more than 1 lakh APY enrolments each during April 1-August 24, 2021.

Atal Pension Yojana Eligibility

Any person who is a citizen of India and is between 18 years to 40 years is eligible for SBI Atal Pension Yojana. The Atal Pension Scheme provides five fixed monthly pension options: 1,000, 2,000, 3,000, 4,000 and 5,000.

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SBI allows one to register for the Atal Pension Yojana either by visiting the branch or through a net banking facility.

How to apply for APY through SBI net banking

  • Login to your SBI netbanking account.
  • Select ‘Social Security Schemes’.
  • Choose Atal Pension Yojana.
  • Now, select the savings account number that you want to link with the APY scheme.
  • As soon as you click on submit, you get an option to select the Customer Identification (CIF) number.
  • Select the CIF which is system generated.
  • Fill in the e-form which is visible on your screen.
  • After filling in the personal details, you’ll get the option of filing the nominee details.
  • Select the pension details like amount, and contribution period-monthly, quarterly or annually.
  • Now submit the form and download the acknowledgement slip.

 

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