Atal Pension Yojana (APY)

Secure your post retirement life with a monthly pension

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Fixed pension ranging between ₹1000 to ₹5000 per month at age of 60
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Age of scheme exit and start of pension would be 60 years
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Spouse will continue to draw pension in the event of death of subscriber
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Nominee to receive corpus of upto ₹8,50,000 in case of death of both spouse and subscriber

Atal Pension Yojana

The Government of India announced the Atal Pension Yojana (APY) in the 2015-16 budget, to enable Indians in the unorganised sector to secure their future post retirement. The scheme is administered by the Pension Fund Regulatory and Development Authority (PFRDA) through NPS architecture. Contributions made by an individual to APY are eligible for deductions under section 80CCD of the Income Tax Act, 1961 subject to conditions therein.

Click here to view APY Contribution Chart.

Click here to view Terms & Conditions.

Click here to view the Information Brochure.


FAQs

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Subscriber Payment:

  • Auto debit facility to accounts
  • Subscribers are required to opt for a monthly pension from ₹1000 - ₹5000 and ensure payment of stipulated monthly contribution regularly.

Penalty for Default:


IDFC FIRST Bank is required to collect Rs. 1 per month for contribution of every Rs. 100, or part thereof, for each delayed monthly contributions. The overdue interest amount collected will remain as part of the pension corpus of the subscriber.

If a subscriber were to discontinue payments:

  1. After 6 months account would be frozen
  2. After 12 months account would be deactivated
  3. After 24 months the account would be closed
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Eligibility for APY:

  • Hold a Savings Bank account
  • Minimum age of joining: 18 years; Maximum Age of Joining: below 40 years

Documents:

  • Aadhaar would be the primary KYC document for identification of beneficiaries, spouse and nominees
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Contact us

REGISTERED office:

IDFC FIRST Bank Ltd

KRM Tower, 7th Floor, No. 1,
Harrington Road, Chetpet,
Chennai - 600031, Tamil Nadu,
India

Corporate office:

IDFC FIRST Bank Ltd

Naman Chambers,
C-32, G-Block,
Bandra-Kurla Complex,
Bandra East, Mumbai - 400051,
India

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