How can an individual open a Vijaya Bank Atal Pension Yojana Account ?

In order to subscribe to the Atal Pension Yojana scheme, individuals will first have to possess a savings account with Vijaya Bank Atal Pension Yojana subscription form will also have to be filled out by providing the necessary details. The individual will then have to furnish documents such as their Aadhaar card number and mobile number. They will also have to maintain the required amount in their account every month as the contribution amount will be directly debited from there.

What is the due date for the contribution each month?

The due date for the contribution amount depends on the date when the initial amount was contributed.

Is the Aadhaar number mandatory for joining the scheme?

Aadhaar number is not mandatory for opening the Atal Pension Yojana account, however it is the primary KYC document required.

Is it mandatory for the individual to provide a nominee while joining the Atal Pension Yojana scheme?

Yes, it is necessary for a nominee to be provided.

Are customers provided with the option of varying their contribution amount?

Yes, customers have the option of varying their contribution amount for pension scheme, however this option is provided only once in the entire year, in April.

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Vijaya Bank Atal Pension Yojana

Vijaya Bank offers customers with the Atal Pension Yojana scheme that provides a monthly pension after they attain the age of 60. The subscriber should be working in the unorganised sector and should not be paying taxes.

Vijaya Bank offers subscription to the Atal Pension Yojna to all its account holders. Opening Vijaya Bank Atal Pension Yojana account is quite simple as it requires citizens to fill out a subscription form in Vijaya Bank, provide the required documents and ensure that the required amount is present in their Vijaya Bank savings account.

Atal Pension Yojana was launched to ensure that workers under the unorganized sectors benefit from retirement plans and lead a dignified life in their old age.

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Benefits & Features of Atal Pension Yojana

Subscribers can avail a guaranteed pension amount between Rs. 1000 and Rs. 5000 every month after they attain the age of 60.
Individuals between the ages of 18 to 40 can procure Vijaya Bank Atal Pension Yojana scheme and the earlier the individual enrols, lesser is the amount to be contributed. Therefore a minimum contribution period of 60 years is mandated.
Subscribers who enrol in this scheme before 31 December 2015 can avail additional benefits in the form of government contribution. The Government of India will co-contribute to each eligible individual for a period of five years.
Applicants who do not come under the bracket of any statutory social security scheme or if they are not income taxpayers, can avail a government co-contribution of 50% or Rs. 1000 every year (whichever is the lower amount).

Subscribers need to have a savings account with Vijaya Bank with an auto debit facility linked to their account. This is because the contribution amount each month is directly debited from the subscriber's account. Therefore, a minimum amount will have to be maintained in their account.
In case payments are delayed for a particular month, a penalty will be levied as mentioned in the table below.Amount being contributed (per month)Penalty (per month)Upto Rs. 100Re. 1Rs. 101 - Rs. 500Rs. 2Rs. 501 - Rs. 1000Rs. 5Rs. 1001 and aboveRs. 10
In addition to this, if payments are discontinued then the account will either be frozen, deactivated or closed.
An individual can open only one Atal Pension Yojana account.
Subscribers are not permitted to exit the scheme midway unless circumstances are exceptional such as terminal illness or death.

Vijaya Bank Atal Pension Yojana Eligibility

Indian citizens who fall in the age bracket of 18-40 can procure this scheme through their Vijaya Bank accounts.
They will also have to provide the required KYC details such as Aadhaar card number and their mobile number.

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The Indicative Atal Pension Yojana Contribution Chart is as follows -

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

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FAQs on Vijaya Bank Atal Pension Yojana

How can an individual open a Vijaya Bank Atal Pension Yojana Account ?
1. In order to subscribe to the Atal Pension Yojana scheme, individuals will first have to possess a savings account with Vijaya Bank
2. Atal Pension Yojana subscription form will also have to be filled out by providing the necessary details.
3. The individual will then have to furnish documents such as their Aadhaar card number and mobile number.
4. They will also have to maintain the required amount in their account every month as the contribution amount will be directly debited from there.
What is the due date for the contribution each month?
The due date for the contribution amount depends on the date when the initial amount was contributed.
Is the Aadhaar number mandatory for joining the scheme?
Aadhaar number is not mandatory for opening the Atal Pension Yojana account, however it is the primary KYC document required.
Is it mandatory for the individual to provide a nominee while joining the Atal Pension Yojana scheme?
Yes, it is necessary for a nominee to be provided.
Are customers provided with the option of varying their contribution amount?
Yes, customers have the option of varying their contribution amount for pension scheme, however this option is provided only once in the entire year, in April.

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