Atal Pension Yojana Scheme | APY Scheme Details and Eligibility

The GOI scheme for social security for the poor , under-privileged and the workers in the unorganized sector.
The contribution amount depends on age and pension amount.
The guaranteed monthly pension amount ranges from Rs.1000/- to Rs.5000/-.
The exit from APY is permitted on attaining the age of 60 years with 100% annuitisation of pension wealth. On exit, pension would be available to the subscriber.
In case of death of subscriber pension would be available to the spouse and on the death of both of them (subscriber and spouse), the pension corpus would be returned to his nominee.
The Exit before age 60 would be permitted only in exceptional circumstances, i.e., in the event of the death of beneficiary or terminal disease.
In the event of death of the subscriber, the spouse can continue the account for remaining vesting period.
A subscriber of the Atal Pension Yojana account can enjoy tax benefits, including the additional deduction of Rs. 50,000 under Section 80CCD (1) of the Income Tax Act.

A Citizen of India can join APY scheme fulfilling the following :

The age of the subscriber should be between 18 - 40 years.
He / She should have a savings bank account/ open a savings bank account.
Any citizen between the age of 18 and 40 years, who is income tax payer, shall not be eligible to join APY w.e.f 1st October, 2022. This amendment is not applicable to existing APY subscribers/ income tax payers who have already joined APY by 30.09.2022.

Indicative APY Contribution Chart (Agewise)

Age of Entry	Years of contribution	Monthly pension of Rs.1000	Monthly pension of Rs.2000	Monthly pension of Rs.3000	Monthly pension of Rs.4000	Monthly pension of Rs.5000
18	42	42	84	126	168	210
19	41	46	92	138	183	228
20	40	50	100	150	198	248
21	39	54	108	162	215	269
22	38	59	117	177	234	292
23	37	64	127	192	254	318
24	36	70	139	208	277	346
25	35	76	151	226	301	376
26	34	82	164	246	327	409
27	33	90	178	268	356	446
28	32	97	194	292	388	485
29	31	106	212	318	423	529
30	30	116	231	347	462	577
31	29	126	252	379	504	630
32	28	138	276	414	551	689
33	27	151	302	453	602	752
34	26	165	330	495	659	824
35	25	181	362	543	722	902
36	24	198	396	594	792	990
37	23	218	436	654	870	1087
38	22	240	480	720	957	1196
39	21	264	528	792	1054	1318
40	21	291	582	873	1164	1454

You can apply through following modes

Online Mode-
- Internet Banking.
- Mobile Banking App.
Internet Banking-
- Visit nearest branch of Canara Bank.
- To redirect on the login page, please Click Here.

GST