Airtel Payments Bank announced the launch of Atal Pension Scheme for its savings bank holders. The bank told on Thursday that Launching this scheme has become the first payment bank of the country which is giving benefits to the Pension Fund Regulatory and Development Authority (PFRDA) scheme. The Atal Pension Scheme is the Central Government's campaign and its main objective is to provide pension and social security to those working in the unorganized sector. People who are between 18 and 40 years old only This scheme is available for account holders between the age of 18 years and 40 years and it provides a minimum guaranteed monthly pension between Rs.
1000 to Rs. 5000 based on customer's contribution. Its premium starts at least Rs 42 per month. Apart from this, after the death of the member, his life partner receives a monthly pension and after the death of the member and his spouse, the nominee receives an amount of upto Rs 8.5 lakhs.
Bank's account holders can take advantage of the Atal Pension Scheme through its simple and paperless process on 50 thousand banking points. Bank's plan is to expand the availability of this scheme on one lakh banking points.
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