Atal Pension Yojana: Nearly 8 lakh Subscribers Enrolled via SBI in Just 5 Months

Around 8 lakh new subscribers have joined the “Atal Pension Yojana” via the State Bank of India during 2021–2022.  As per the information launched by Pension Fund Regulatory & Development Authority (PFRDA), APY subscribers crossed the 3.30 crore mark on 25^th August. The public sectors banks accounted for the highest number of APY subscribers at over 2.33 crore.

It was adopted by the regional rural bank (61.32 lakh), personal banks (20.64 lakh), small finance banks & payment banks together (10.78 lakh), the Department of Posts (3.40 lakh) & Cooperative banks (84,627).

The nation's high lender is within the first place with 7, 99,428 subscribers. This data is from the 1^st April 2021 to the 24^th of August 2021.

Canara Bank, Bank of Baroda, Airtel Payment Bank followed SBI with greater than 2 lakh APY enrollment throughout the interval.

Union Bank of India, Indian Bank, Bank of India, Central Bank of India & Punjab National Bank have been among many reputed banks, garnering greater than 1 lakh APY enrollments from 1^st April to 24^th August 2021.

Eligibility of Atal Pension Yojana

Anyone who is a citizen of India & is between 18 years old to 40 years old is eligible for the SBI Atal Pension Yojana. The Atal Pension Scheme offers 5 fastened month to month pension choices of Rs.1,000, Rs.2, 000, Rs.3, 000, Rs.4, 000 & Rs.5, 000.

SBI permits one to register for the Atal Pension Yojana either by visiting the department or by the online banking facility.

How to Use APY by SBI Web Banking

• Log in to your SBI net banking account

• Now select “Social Security Schemes”.

• Choose “Atal Pension Yojana”.

• Now select the financial savings account quantity that you simply wish to hyperlink with the Atal Pension Yojana Scheme.

• As quickly as you click on the Submit option, you will get a choice to pick “Customer Identification (CIF) quantity.

• Select the CIF, which is system generated.

• Fill within the e-form, which is visible on your display.

• After filling within private particulars, you will get the choice of submitting the nominee particulars.

• Select pension particulars such as quantity & contribution period-monthly, quarterly or yearly.

• Submit the form & obtain the acknowledgment slip.