Oriental Bank of Commerce Atal Pension Yojana Last Updated : 24 Oct 2019

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.
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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 Yojanascheme, 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 per 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 per 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 yrs that you contribute Pension of INR 4,000 per 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 per 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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