Atal Pension Yojana Calculator (APY Chart) 2024- Interest Rate

The Government of India launched the Atal Pension Yojana Calculator (APY Chart) 2024. All the citizens of India who are selected under the Atal Pension Yojana can now visit the official website to calculate their return and interest rate under the scheme. All senior citizens who have reached the age of 60 years and are retired from their professional jobs are eligible to avail the benefits of the Atal Pension Yojana. By checking their Atal Pension Yojana amount the senior citizens can plan their future according to the amount. To check the amount under the Atal Pension Yojana calculator the senior citizens just need to enter their desired amount and joining age.

What is Atal Pension Yojana?

The Atal Pension Yojana also known as APY was launched by the Prime Minister of India Mr Narendra Modi on 9th May 2015. Since then the scheme has provided monetary incentives to all the citizens of India who are above the age of 60 years. Under this scheme, the central government of India will provide monthly financial assistance of INR 1,000 to INR 5,000 to all the selected senior citizens according to their contribution to the system and the age at which they began their subscription. According to the 2023 data, a total of 6 crore senior citizens of India have already registered under the scheme.

Also Read: 70+ Senior Citizen Ayushman Card 

The objective of Atal Pension Yojana Calculator

The main objective of launching the scheme is to provide pensions to all the senior citizens of India and increase their standard of living significantly. This scheme was specially designed by the government of India to make all the retired senior citizens of India self-dependent. All the senior citizens who will get selected under the scheme have their pension amount transferred directly to their bank account. With the help of the Atal Pension Yojana calculator senior citizens can easily check their amount without visiting any government office.

Helpful Summary of Atal Pension Yojana Calculator

Key Highlights	Details
Name of the Scheme	Atal Pension Yojana Calculator
Launched By	Government of India
Launch Date	9th May 2015
Announced By	Prime Minister of India
Purpose	Provide pension
Beneficiaries	Citizens of India
Target Beneficiaries	Senior citizens above the age of 60 years
Advantage	Help senior citizens by providing pension
Eligibility Criteria	Permanent resident of India above the age of 60 years
Required Documents	Aadhaar Card, Bank account
Application Process	Online
Official Website
Financial Commitment
Expected Benefits	Pension of up to INR 1000 to INR 5000
Contact Number	1800 889 1030

Eligibility Criteria

• The citizens must be a permanent resident of India.
• The citizens must have opened their Atal pension Yojana account between the ages of 18 to 40 years.
• The citizens must have a savings bank account or a post office account.
• The citizens must not be an income tax payer.

Benefits of Atal Pension Yojana Calculator

• With the help of the Atal Pension Yojana Calculator, citizens can easily calculate their maturity amount online in the comfort of their homes.
• The pension amount of INR 1000 to INR 5000 will be given to all the selected senior citizens depending on their contribution.
• Under Section 80CCD (1) of the Income Tax Act, All the citizens who will make contributions under the Atal Pension Yojana are deductible from taxes.
• With the help of the pension amount under the scheme, senior citizens can become self-dependent after reaching the age of 60 years.
• The pension amount will be transferred directly to the selected senior citizens through the DBT process.

APY Chart

Age of Entry	Years of Contribution	Monthly Pension of ₹1,000 (Indicative Corpus: ₹1.70 lakhs)	Monthly Pension of ₹2,000 (Indicative Corpus: ₹3.40 lakhs)	Monthly Pension of ₹3,000 (Indicative Corpus: ₹5.10 lakhs)	Monthly Pension of ₹4,000 (Indicative Corpus: ₹6.80 lakhs)	Monthly Pension of ₹5,000 (Indicative Corpus: ₹8.50 lakhs)
18	42	42	84	126	168	210
19	41	46	92	138	183	228
20	40	50	100	150	198	248
21	39	54	108	162	215	269
22	38	59	117	177	234	292
23	37	64	127	192	254	318
24	36	70	139	208	277	346
25	35	76	151	226	301	376
26	34	82	164	246	327	409
27	33	90	178	268	356	446
28	32	97	194	292	388	485
29	31	106	212	318	423	529
30	30	116	231	347	462	577
31	29	126	252	379	504	630
32	28	138	276	414	551	689
33	27	151	302	453	602	752
34	26	165	330	495	659	824
35	25	181	362	543	722	902
36	24	198	396	594	792	990
37	23	218	436	654	870	1,087
38	22	240	480	720	957	1,196
39	21	264	528	792	1,054	1,318

Atal Pension Yojana Calculator

Contribution Under APY

• To encourage early enrollment and provide further support, the government pays qualified subscribers a co-contribution. For the first five years of the plan, this co-contribution is ₹1,000 per year, or 50% of the subscriber’s contribution, whichever is smaller.
• Members of the program who enlisted between June 1, 2015, and March 31, 2016, are eligible for this as long as they are not eligible for coverage under another social security program or are exempt from income tax.

Maturity and Withdrawal

• The senior citizens will receive the guaranteed minimum pension amount that they will choose during the enrollment process.
• Senior citizens will get larger pensions if the real investment returns outperform the projected returns.
• The spouse of the senior citizens will continue to get the same pension after the death of the enrolled citizen.
• The nominee inherits the total pension asset upon the death of both the nominee and the deceased spouse.

Atal Pension Yojana Formula

• The formula for calculating the Atal Pension Yojana (APY) is APY = (1 + r/n)n – 1, where:
  • r: Stands for the interest rate.
  • n: Stands for the number of times the interest is compounded per year.

How to Calculate Interest Return Under Atal Pension Yojana?

STEP 1: All senior citizens who are already registered under the Atal Pension Yojana can now visit the official website to calculate interest under Atal Pension Yojana.

STEP 2: Now on the home page the citizens must enter their desired monthly pension and joining year.

STEP 3: After entering the details the citizens can just scroll down and check their monthly investment, investment duration, and total amount.

APY Enrollment Process

STEP 1: All who want to enroll under the Atal pension Yojana scheme must visit the bank branch where they have their savings bank account.

Step 2: After reaching the bank branch the senior citizens must consult with the bank employees and do their APY registration by entering all the details.

Step 3: Now the citizens have to submit their Aadhar Card and mobile number details to get the latest information and updates on their mobile phone.

Step 4: Lastly the citizens must make sure that their savings account has enough money to cover the half-yearly, quarterly, and monthly contributions.

Download Registration Form

STEP 1: All the citizens who want to download their Atal pension Yojana registration form online are requested to the official website by clicking on the link here.

STEP 2: Once the citizens reach the homepage of the official website they must locate and click on the option “Atal Pension Yojana”.

STEP 3: Now a new page will appear on your desktop screen the citizens must scroll down and click on the option “download form” and the PDF form will be downloaded on your desktop.

Contact Details

• Phone No:-1800 889 1030

FAQs

What is the main objective of launching the Atal Pension Yojana?

The main objective of launching the Atal Pension Yojana is to provide financial assistance to senior citizens so that they can become self-dependent.

What is the pension amount given to the selected beneficiary under the Atal Pension Yojana?

The pension amount of INR 1000 to INR 5000  1000 will be given to all the selected beneficiaries under the Atal Pension Yojana.

When was the Atal Pension Yojana first launched?

The scheme was first launched on 9th May 2015.