How To Get Benefits Of 'Atal Pension Yojana' From Airtel Payments Bank

Airtel Payments Bank has launched 'Atal Pension Yojana' or its savings account customers.

With this, Airtel Payments Bank has become the first payments bank in the country to offer this Pension Fund Regulatory and Development Authority (PFRDA) administered the scheme.

The scheme is currently available at Airtel Payments Bank's 50,000 banking points across India and the distribution will soon be expanded to cover over 100,000 banking points.

Anubrata Biswas, Managing Director and Chief Executive Officer, Airtel Payments Bank, said, "With our unique and vast distribution, we can extend the benefits of this scheme to the unorganized workforce in a simple, easy and transparent manner, enabling financial security for all."

Scheme Is Available Between The Age Of 18 To 40

According to Airtel this scheme is available to account holders between the age of 18 to 40 and offers a minimum guaranteed monthly pension of between Rs. 1,000 and Rs. 5,000, depending on the customer's contribution which starts at as low as Rs.42 per month.

In addition, the spouse gets a monthly pension after the death of the subscriber and the nominee gets the corpus amount of up to Rs. 8.5 lakh in the event of the death of the subscriber and the spouse.

Meanwhile, Airtel Payments Bank is planning to expand the availability of the scheme at 100,000 of its banking points.

To refresh Airtel Payments Bank has also joined hands with Bharti AXA to offer Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), a government-backed life insurance scheme aimed at increasing penetration of life insurance products among the underinsured masses and boosting financial inclusion.

Enables BHIM UPI Based Payments At Over 500,000 Merchants

To recall, the payment bank has also enabled open loop BHIM UPI based payments at over 500,000 merchant points across India, allowing consumers to make digital payments for good and services by using any BHIM UPI enabled bank or payments app over their mobile phones.

What Is Atal Pension Yojana

The Atal Pension Yojana (APY) is aimed at offering pension benefits to workers and unorganized sector and one needs to have a savings account in the bank.

We strongly believe joining hands with APY will be beneficial for Airtel Payment Bank as more customers will get attracted towards this scheme.