Opening an Atal Pension Yojana account has become easier now. An Atal Pension Yojana account can be opened online with a bank by using one’s Aadhaar number. The APY form can be filled online itself. While opening an online APY account using Aadhaar, you need to furnish your bank account number, phone number registered with Aadhaar and the Aadhaar number mandatorily.
Pension Fund Regulatory and Development Authority (PFRDA) the government body that administers NPS, is also the regulator for APY. Recently, eAPY has been given the go-ahead by the PFRDA that will ease the onboarding of subscribers through Aadhaar.
eAPY, the digital on boarding facility through Aadhaar eKYC, at no extra cost, will now be an additional option for those looking to open an APY account. eAPY will allow seamless digital enrollment without the need to visit the one’s bank branch.
Read More: PM Jan Dhan account holders can get Rs 3000 per month, here’s what to do
The process flow of eAPY registration could be either as Offline XML based Aadhar KYC or completely Online Aadhaar based eKYC.
The eAPY link to open the APY account online without having to go to the branch can be accessed at the website of all APY-Service Provider Banks. One can also visit the NSDL NPS website wherein a link for Atal Pension Yojna has been created.
The Subscribers who prefer eAPY as a mode of registration need to ensure the following:
1. The demographic information provided at the time of registration through e APY by using e KYC or XML matches with the information available in Bank records.
2. The saving bank account should have sufficient balance towards the 1st installment of APY contribution as per the choice of pension between Rs 1000 and Rs 5000.
Read More: e-Shram Card: How to register online on eshram.gov.in? Check details, and more
As of now, the enrollment under the APY scheme occurs through physical, net banking or other digital modes provided by the respective APY-Service Providers.
Under APY, there is a fixed and guaranteed pension amount depending on the amount you save on a regular basis. Depending on your contribution towards APY, a guaranteed monthly pension of Rs.1,000, Rs.2,000, Rs.3,000, Rs.4,000 and Rs.5,000 per month is provided from age 60. The returns in APY is around 8 per cent and is assured to the APY subscriber.
