Atal Pension Yojana in SBI
Well Atal Pension Yojana is trending these days on social media and most of the Indian are interested in knowing the pros and cons of this scheme. Atal pension Yojana is a new Pension scheme which had been launched by Modi Government which would start effectively 1st June 2015.
If you are one of the eligible people, I mean if you lie in the age range of between 18 and 40 years then you might be interested in availing Atal Pension Yojana. Since all my accounts are in SBI (State bank of India) I would I like my Atal Pension Scheme to be operated in SBI.
I went to my SBI Salary branch and they as usually did not have the information with them. Then I thought of educating my readers about what should they do to open an Atal pension account in SBI.
Don’t worry folks you just need to download this Atal Pension Yojana form and submit it to your nearest SBI branch. Aadhar card is currently not mandatory but will be required at the business end of the scheme. So I would advise you to carry your Aadhar card with you.
Atal Pension form has 3 sections and you need to fill each piece of it. Please let me know if you have any problem in filling this form. You will also have to opt for the pension amount that you require after the age of 60. The Premium that you will have to bear would be auto deducted from your account per month based on your selection.
Please see the snapshot below to know the premium amount that you will have to bear per month. You can now pay premiums of APY quarterly and semi annually also.
As per new rules you can close your APY account , there will be a small penalty though.
Atal Pension Yojana Tax Exemptions and Benefits.
Government have just announced that now you can claim the premium amount that you have paid under section 80CCD. You have have to keep your APY statement handy to claim this amount. Pension amount that you will get is still taxable as per law.