How to open Atal Pension Yojana (APY) in HDFC bank?

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Atal pension yojana (APY) is a Social Security Scheme, mainly focused on citizens in the unorganized sectors in India.

The APY is administered by the Pension Fund Regulatory and Development Authority (PFRDA) and it encourages the unorganized sector workers to voluntarily save for their retirement.

Under this scheme, there is guaranteed monthly pension for the subscribers – ranging between Rs. 1,000 and Rs. 5,000 per month, depending on the contribution and the period.

How to open Atal Pension Yojana in HDFC bank?

You can open APY in HDFC in offline and online mode.

First we will see offline mode in HDFC branch.

1. Existing HDFC saving account holders can approach any of the HDFC Bank branch to open your Atal Pension Yojana.

2. You can get the Atal Pension Yojana application form from the bank staff.

3. Provide Atal Pension Yojana form along with the required documents to the bank staff with Aadhaar and mobile number.

Online mode to open Atal Pension Yojana in HDFC

1. Existing saving account holders can visit the NSDL website.

2. Select HDFC Bank from list.

3. Input your Bank account number, Mobile number, email ID and Aadhaar No and generate OTP. Input OTP when received on your mobile.

4. Give your personal and nominee details, select pension amount and frequency of paymenbt.

5. E-sign the application form to confirm for enrollment.

How to download Atal Pension Yojana Account Statement online?

Step 1: Visit the NSDL APY website: https://npscra.nsdl.co.in/scheme-details.php

Step 2: Select “APY e-PRAN/Transaction Statement View” on the left side navigation.

Step 3: You can view the statement in 2 ways; 1. Click to search with PRAN or 2. Click to search without PRAN

Points to remember:

  • APY is applicable to all citizen of India aged between 18 to 40 years.
  • Atal Pension Yojana is eligible for Tax Benefit under Sec 80 CCD
  • On the death of subscriber, APY pension would be available to the spouse. 
  • Saving account is mandatory to subscribe APY scheme
  • A subscriber can open only one APY account and it is unique.
  • When the contribution is not made for 6 months, APY account will be frozen. If it is more than 12 months, then your account will be deactivated.
  • Exit before Age 60 years is not permitted except in the event of the death of beneficiary or terminal disease.
  • The contributions to APY can be made at monthly/quarterly/half yearly intervals through auto-debit facility from your savings bank account.
  • It is mandatory to provide your nominee details. For the married subscriber, the spouse will be the default nominee.
  • APY physical statement will be provided to the subscribers annually.

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