APY aims at providing a steady stream of income after the age of 60 to all citizens of India.

Atal Pension Yojana

Atal Pension Yojana is based on National Pension Scheme and aims at providing a steady stream of income after the age of 60 to all citizens of India. Know more!

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  • Introduction
  • NPS Lite

Atal Pension Yojana : Introduction

  • Atal Pension Yojna is a Social Security Scheme introduced by Govt. of India, aimed at providing a steady stream of income after the age of 60 to all citizens of India. It is based on National Pension Scheme (NPS) frame work. Permanent Retirement Account Number (PRAN) will be provided to the subscriber immediately by the branch.
  • Under APY the subscribers have a choice to get Fixed Monthly Pension amount from Rs. 1000, Rs.2000, Rs. 3000, Rs. 4000 and Rs. 5000 by paying monthly subscription as per the table given below:

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 20 291 582 873 1164 1454
  • Central Government will co-contribute 50% of the total yearly contribution or Rs. 1000 per annum, whichever is lower, for the period of 5 Years in the account of subscribers who join the scheme up to 31st December, 2015 and who are not a member of any Statutory Social Scheme and not an income tax payer.
  • Subscribers joining APY scheme at an early stage of age would be required to pay lesser monthly subscription amount as compared to the subscriber joining at a later age as illustrated in the above table.
  • Our NPS-Lite Swavalamban subscribers, if eligible i.e. between the age of 18 to 40, may shift to APY by filling the APY Registration form for Existing Swavalamban Subscribers.
  • Nomination facility is available.

Atal Pension Yojana : NPS Lite

  • Customer can visit branches to deposit contribution in NPS Lite scheme.
  • NPS Lite subscribers can contribute for NPS Lite PRAN online using the below link -https://enps.nsdl.com/eNPS/InitialExistingUser.html
  • Select 'NPS Swavalamban' in the field NPS Subscriber Type and complete the online contribution process.
    1. Modification/ withdrawal request - Duly filled NPS Lite modification form to be forwarded to NPS Nodal Cell through Base Branch.
    2. Migration to APY - NPS Lite subscribers in the age group of 18-40 years can migrate their PRANs to APY. Customer to approach branch for the same.
    3. Grievance redressal - Customer can approach their base branch.

The Government of India vide Gazette Notification dated 10th August, 2022 has made the amendment in the eligibility criteria for the resident Indian, which states that “Provided that from 1st October, 2022, any citizen who is or has been an income-tax payer, shall not be eligible to join APY”

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Frequently Asked Questions (FAQs)

  • What is Kisan Vikas Patra Scheme?

    Kisan Vikas Patra, an initiative of the Indian government, is a small savings instrument that allows people to invest in a long-term savings plan. An individual can open an unlimited number of KVP accounts with a minimum deposit of one thousand rupees and any amount in multiples of one hundred rupees. There is no maximum deposit limit in an account or in accounts held by an account holder.

  • Is Kisan Vikas Patra a good investment?

    Yes, Kisan Vikas Patra is a good investment for chances of less to no risk.

  • Who is eligible for Kisan Vikas Patra?

    Kisan Vikas Patra can be purchased by any Indian resident and minors.

  • What is the interest rate on Kisan Vikas Patra?

    For Q3 ROI is 7.0%. The interest rates of kisan vikas patra savings schemes are decided by the government and vary every 3 months to a year.

  • Which documents required for Kisan Vikas Patra scheme?

    Documents required for Kisan Vikas Patra are Aadhaar Card, Driving Licence, Passport, Voter ID as identity & address proofs.

    Note: PAN card for investments over Rs.50, 000 and income source proof for investments exceeding Rs.10,00,000 is mandatory.

  • How Kisan Vikas Patra works?

    Kisan Vikas Patra is a risk-free investment to get promised returns on fixed interest rates throughout the year.

  • Can I withdraw KVP after 2.5 years?

    Yes, one can withdraw Kisan Vikas Patra (KVP) after 2.5 years.

  • Can I transfer a KVP certificate to another person?

    Yes, that is an option and you can transfer a KVP certificate to another person.

  • What is the maturity period of Kisan Vikas Patra (KVP)?

    The maturity period of KVP is 123 months.
    Note: Presently maturity period depends upon ROI.

  • Are there any restrictions in terms of the amount that can be invested in Kisan Vikas Patra?

    No, there is no maximum limit for deposit in an account or in accounts held by an account holder.

  • What is the current rate of interest that can be earned with KVP scheme?

    The current rate of interest with KVP scheme is 7.0% for Q3.

  • Where can one encash a Kisan Vikas Patra (KVP)?

    One can encash a KVP through a branch.

  • How will the KVP maturity amount be paid?

    The KVP maturity amount be paid will be credited in operative account of customer.

  • Can NRIs and HUFs invest in the KVP scheme?

    No, NRIs and HUFs cannot invest in the KVP scheme.

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