Oriental Bank of Commerce Atal Pension Yojana

Oriental Bank of Commerce offers the Atal Pension Yojana to the people of the unorganised sector. Based on the amount of contribution, a subscriber can receive a pension ranging between Rs.1,000 and Rs.5,000.

Effective 1 April 2020, Oriental Bank of Commerce Atal Pension Yojana has merged with Punjab National Bank Atal Pension Yojana and PNB will become the second largest lender of the country.

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. ThisnAtal 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 % 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 Pension of INR 2,000 per month Pension of INR 3,000 per month Pension of INR 4,000 per month Pension of INR 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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