Atal Pension Yojana: Invest only Rs 7/day and get Rs 5K pension every month, know calculations

Atal Pension Yojana gives one the opportunity to invest money in small amount and get decent monthly pension at the time of retirement age of 60 years. People who can't invest huge sums every month due to low earnings can accumulate good amount through investment as low as Rs 7 in Atal Pension Yojana. Know how is it possible

If you want to apply for Atal Pension Yojana, first of all open a savings account in a bank. Photo: Unsplash/Representational

Atal Pension Yojana: The basic rule of investment is- the sooner you start investing, the more wealth you accumulate at the time of retirement. However, when people want to invest money for their secure retirement, the problem they face is they don't have sufficient money to invest in a government or a private due to their low earnings. But no investment is small if you make it on a regularly basis. There are government pension schemes like Atal Pension Yojana, which can help one get a monthly pension of Rs 5,000 with an investment as low as Rs 7 a day.

One can get a much bigger monthly pension than Rs 5,000 also but it depends on the size of your monthly investment.

Any Indian citizen who is not a taxpayer and whose age is between 18 years to 40 years, can contribute to Atal Pension Yojana.

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Save Rs 7 daily, get pension of Rs 5,000

If you start investing in Atal Pension Yojana at the age of 18, you will have to invest only a small amount every month, and at the age of 60, you can get a monthly pension of Rs 5,000.

For that, you will have to deposit Rs 210 a month, which means you have to save only Rs 7 per day.

If you have missed the bus and are already above 18 years, we will tell you how much investment you need to make to get a monthly pension of Rs 5,000.

How much to invest to get Rs 5,000 pension

Rs 228 per month at the age of 19 years
Rs 248 per month at the age of 20 years
Rs 269 per month at the age of 21 years
Rs 292 per month at the age of 22 years
Rs 318 per month at the age of 23 years
Rs 346 per month at the age of 24 years
Rs 376 per month at the age of 25
Rs 409 per month at the age of 26 years
Rs 446 per month at the age of 27 years
Rs 485 per month at the age of 28 years
Rs 529 per month at the age of 29 years
Rs 577 per month at the age of 30 years
Rs 630 per month at the age of 31 years
Rs 689 per month at the age of 32 years
Rs 752 per month at the age of 33 years
Rs 824 per month at the age of 34 years
Rs 902 per month at the age of 35 years
Rs 990 per month at the age of 36 years
Rs 1087 per month at the age of 37 years
Rs 1196 per month at the age of 38 years
Rs 1318 per month at the age of 39 years
Rs 1454 per month at the age of 40

Atal Pension Yojana: How to open an account

If you want to apply for Atal Pension Yojana, first of all open a savings account in a bank.

If you already have a savings account, you will have to get the application form of the scheme from there.

Fill all the information correctly in the form like name, age, mobile number, bank account number, etc.

Attach all the necessary documents and submit the form to the bank. After this, all your documents will be verified and your account will be opened under Atal Pension Yojana.

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