Allahabad Bank Atal Pension Yojana Last Updated : 04 Aug 2020

Allahabad Bank Atal Pension Yojana is a scheme wherein, Allahabad Bank enables individuals to enroll for the Atal Pension Yojana. This plan provides monthly pensions from Rs.1,000 to Rs.5,000 per month. One can enjoy guaranteed benefits as well.

Effective 1 April 2020, Allahabad Bank Atal Pension Yojana has merged with Indian Bank Atal Pension Yojana.

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Allahabad Bank is one of the banks that allows people in the country to subscribe to the Atal Pension Yojana. This scheme offers guaranteed benefits and monthly pensions that will be in the range of Rs 1,000 to Rs 5,000 every month. The scheme will be under the administration of the Pension Fund Regulatory and Development Authority (PFRDA) of India. If you want to subscribe to this scheme, you can easily download the Atal Pension Yojana form from the official website of the bank, fill it, sign it, and then submit the same to the bank along with KYC documents to open an account.

Features & Benefits of Allahabad Bank Atal Pension Yojana

  • If you opt for Allahabad Bank Atal Pension Yojana scheme, you can avail guaranteed pension after you retire.
  • Your monthly pension will depend on your contribution and will be in the range of Rs 1,000 to Rs 5,000.
  • In case you are not covered any of the social security schemes in the country and if you are not a tax payer, the government of India will act as a co-contributor and will contribute 50 percent of your annual contribution or Rs 1,000 per annum, whichever is lower.
  • If eligible, you can receive contribution from the government for a period of 5 yrs.
  • Each subscriber can open only 1 account under this scheme.
  • The scheme has been designed to offer people working in the unorganized sector with pension benefits.
  • You can start contributing from the age of 18 and you can contribute till you reach the age of 40.
  • The contributions that you make under this Allahabad Bank Atal Pension Yojana scheme will be invested by the bank as per the guidelines given by the Finance of Finance of India.

The tables below give you a description of how much you need to contribute and for how many yrs to enjoy pension of INR 1,000 to INR 5,000.

Age at which you start contributing Number of yrs that you contribute Pension of Rs 1,000 per month Pension of Rs 2,000 per month Pension of Rs 3,000 per month Pension of Rs 4,000 per month Pension of Rs 5,000 per month
18 yrs 42 yrs Rs 42 Rs 84 Rs 126 Rs 168 Rs 210
19 yrs 41 yrs Rs 46 Rs 92 Rs 138 Rs 183 Rs 228
20 yrs 40 yrs Rs 50 Rs 100 Rs 150 Rs 198 Rs 248
21 yrs 39 yrs Rs 54 Rs 108 Rs 162 Rs 215 Rs 269
22 yrs 38 yrs Rs 59 Rs 117 Rs 177 Rs 234 Rs 292
23 yrs 37 yrs Rs 64 Rs 127 Rs 192 Rs 254 Rs 318
24 yrs 36 yrs Rs 70 Rs 139 Rs 208 Rs 277 Rs 346
25 yrs 35 yrs Rs 76 Rs 151 Rs 226 Rs 301 Rs 376
26 yrs 34 yrs Rs 82 Rs 164 Rs 246 Rs 327 Rs 409
27 yrs 33 yrs Rs 90 Rs 178 Rs 268 Rs 356 Rs 446
28 yrs 32 yrs Rs 97 Rs 194 Rs 292 Rs 388 Rs 485
29 yrs 31 yrs Rs 106 Rs 212 Rs 318 Rs 423 Rs 529
30 yrs 30 yrs Rs 116 Rs 231 Rs 347 Rs 462 Rs 577
31 yrs 29 yrs Rs 126 Rs 252 Rs 379 Rs 504 Rs 630
32 yrs 28 yrs Rs 138 Rs 276 Rs 414 Rs 551 Rs 689
33 yrs 27 yrs Rs 151 Rs 302 Rs 453 Rs 602 Rs 752
34 yrs 26 yrs Rs 165 Rs 330 Rs 495 Rs 659 Rs 824
35 yrs 25 yrs Rs 181 Rs 362 Rs 543 Rs 722 Rs 902
36 yrs 24 yrs Rs 198 Rs 396 Rs 594 Rs 792 Rs 990
37 yrs 23 yrs Rs 218 Rs 436 Rs 654 Rs 870 Rs 1,087
38 yrs 22 yrs Rs 240 Rs 480 Rs 720 Rs 957 Rs 1,196
39 yrs 21 yrs Rs 264 Rs 528 Rs 792 Rs 1,054 Rs 1,318
40 yrs 20 yrs Rs 291 Rs 582 Rs 873 Rs 1,164 Rs 1,454
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