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APY Tips: How profitable is it to invest in Atal Pension Yojana? Know the complete process of getting money..

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Atal Pension Yojana is the best option for monthly income in old age. Through this, any old age person can get a pension of up to Rs 5000 per month. In this pension scheme, investors who do not pay taxes have to invest till they are 60 years of age. Pension starts coming only after this. In such a situation, the question arises that if a person dies before 60 years, then who gets his deposited money?

How much premium will have to be paid per month?

People between 18 to 40 years old can invest in this scheme. In this scheme, you can deposit a minimum premium of Rs 210 to 1400 per month. Only then will people get mental pensions ranging from Rs 1000 to Rs 5000.

Who has the right to withdraw the money?

According to Atal Pension Yojana, if the investing person dies due to some disease or accident before turning 60 years of age, then his invested amount is not wasted. In such a situation, the wife and children together have the right to withdraw the entire amount deposited by the APY customer. If a person has made someone a nominee, then legally he is considered to have the right to take the money from that scheme.

How to apply for pension scheme (How to apply for pension scheme)

If you want to apply for Atal Pension Yojana, then follow this process.

For this, first of all, open a savings account in a bank.

If you already have a savings account in the bank, then take the application form of the scheme and fill in the details like name, age, mobile number, and bank account number. Submit the form by attaching the required documents with the application.

Your application form and documents will be verified and the Atal Pension account will be opened.

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