How to withdraw amount in APY( Atal Pension Yojana) Scheme or NPS scheme | APY Scheme withdrawal process

APY stands for Atal Pension Yojana and it's one of the well known financial scheme offered to the public. In this scheme the subscribers will get some fixed amount as a pension after the year of 60 age. They will get 1000, 2000, 3000, 4000 Or 5000 according to their contribution to the APY scheme.

Eligibility criteria for Atal Pension Yojana Scheme:

1) You must be a Indian citizen.

2) You must have a valid bank account.

3) You should be in 18 to 40 years of age. Not more than 40 and not less than 18.

Benefits of Atal Pension Yojana Scheme:

The subscribers will get monthly pension after their 60 years of age. They will get minimum 1000 to maximum 5000 of pension amount monthly according their contribution made to the Atal Pension Yojana scheme. 

How to withdraw or Exit Atal Pension Scheme? APY Closure Process Online

If you want to opt out from the APY scheme then you can follow the following steps to exit from the APY scheme:

Step 1:

Download the Voluntary Exit Form by clicking here:

                                       Download

Step 2: Fill out all the details in the form. You should have PRAN number and you should mention your bank account number in the form. 

Step 3: After filling the form, submit it to the bank where you registered your APY scheme. 

Step 4: After processing your application you will get acknowledgement slip by the bank staff. Keep it safe for future need. 

After 1 week, your contribution money will be directly deposited into your bank account.

In this step the following doubts will we cleared:

1. How to close APY account voluntary before retirement.

2. How to close Atal Pension Yojan Account. 

Conclusion:

It's not recommended to exit from APY scheme. If you exit from the scheme the you will not get contribution amount made by the government. You will get only your contribution amount. So it's wist step if you keep your APY scheme for a long time. Henceforth it will gives you a constant income in future