How to exit from Atal Pension Yojana before 60 years
1. Subscriber will submit the Account Closure request in the specified format to the concerned bank.
2. The subscriber has to fill up the Account Closure form completely including the reason for closure – Download the APY Account Closure Form
3. Bank shall verify the Form and signature of the subscriber. On acceptance of request, bank shall provide an acknowledgement to the subscriber.
4. Bank will be required to initiate the account closure request in the bank APY module which is currently under development.
5. The Bank APY Module will generate a file in a specific format (prescribed by CRA) for all exit cases.
6. The file will be uploaded in the CRA system.
7. On upload of details in the CRA system, the account closure request will be executed in the CRA system.
8. The redeemed amount (based on tile units available in APY account) will be transferred to Subscriber’s Bank Account (registered in APY).