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  • Oriental Bank of Commerce Atal Pension Yojana

    Oriental Bank of Commerce Atal Pension Yojana

    Although the people in the unorganised sector work very hard, they do not earn sufficient amount of money. Actually, several people in this sector fight for their survival and hence they do not really make an effort to save their hard earned money for using it after their retirement. To help these people, the Government of India has launched a pension scheme known as the Atal Pension Yojana or APY. The scheme ensures that the people from the unorganised sectors can avail the benefits of pension after their retirement.

    Oriental Bank of Commerce is one of the banks in India that offers this Atal Pension Yojana to the people of the unorganised sector. Under this scheme, monthly benefits of fixed pension ranging between INR 1000 to INR 5000 is guaranteed. The Pension Fund Regulatory and Development Authority of India, also called PFRDA, is responsible for the administration of the scheme. A person who wants to apply for the Indian Overseas Bank APY can avail the form by downloading it from the official website of Oriental Bank of Commerce. This Atal Pension Yojana form must be properly filled and duly signed by the subscriber and then submitted to the bank along with all the required KYC documents. This is the basic process to open an account for Atal Pension Yojana with the bank.

    Features and Benefits of OBC Atal Pension Yojana

    • In case you decide to opt for Oriental Bank of Commerce Atal Pension Yojana scheme, you can enjoy guaranteed pension after your retirement
    • If you are not a tax payer and aren’t covered under any of the social security schemes in India then the Government will co contribute an amount of INR 1000 or 50 percent of the annual contribution made by you, whichever is lower
    • Co contributions can be availed from the Government of India up to a time period of 5 years. Post this, the scheme will continue but no more co contributions can be enjoyed
    • Every subscriber is entitled to hold only one account with the bank for Atal Pension Yojana
    • Oriental Bank of Commerce Atal Pension Yojana is devised in such a way that it offers maximum pension benefits to all the people in the unorganised sector
    • You can start contributing towards your APY from the age of 18 years. The maximum age after which you cannot start contributing is 40 years

    The tables below will help you to know more about the contributions and time spans which will help you to enjoy pension of INR 1000 to INR 5000

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