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

Nearly 8 lakh new subscribers joined Atal Pension Yojana (APY) via State Bank of India (SBI) from 201-22 so far. According to data by Pension Fund Regulatory and Development Authority (PFRDA), the number of APY subscribers has crossed the Rs 3.30 crore mark as of August 25. Public sector banks accounted for the largest number of APY subscribers with more than Rs 2.33 crore, according to data from PFRDA. 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 April 1, 2021 to August 24, 2021.

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

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

Atal Pension Yojana Eligibility

Anyone with Indian citizenship between the ages of 18 and 40 is eligible for SBI Atal Pension Yojana. Atal's pension plan offers five fixed monthly pension options: 1,000, 2,000, 3,000, 4,000 and 5,000.

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SBI allows a person to register with 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 you want to associate with the APY system.
  • Once you click Submit, you will have the option to select a Customer Identification Number (CIF).
  • Select the CIF generated by the system.
  • Complete the electronic form that appears on your screen.
  • After filling in the personal data, you will have the option to fill in the candidate's data.
  • Specify the pension details such as the amount and the monthly, quarterly, or annual contribution period.
  • Now submit the form and download the acknowledgment receipt.

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