Under APY, two types of charges are levied. They are:
- Account charges
- Charges for non-payment or delayed payment of contributions
The list of charges under each category are given below
Account Charges
Find the list of account-related charges below:
| Sr.No | CRA Charges | Amount (₹) |
|---|---|---|
| 1 | Account Opening Charges | 15.00 |
| 2 | Annual Maintenance Charges | 15.00 |
| 3 | Transaction Charges | NIL |
NOTE:The above-mentioned charges exclude the applicable taxes.
Important FAQs
Will I have to pay any charges for account maintenance of APY account?
Yes, deductions will continue to be made to your APY account for account maintenance and other related charges on a periodic basis. You need to maintain balance in the bank account linked with APY.
Will I be charged any amount if the contribution to my APY account gets delayed?
Yes, if the contribution to your APY account gets delayed beyond the due date, your account will be charged with an overdue interest for the delayed period.
What will happen to APY account in case on non contribution?
An APY account never gets closed due to non-payment of contributions by the subscriber. Further, the subscriber can regularize his/ her account at any point of time by paying contributions for the overdue period along with the overdue interest. However, the deductions would continue to be made in the subscriber’s APY account for account maintenance charges and other related charges on a periodic basis till it becomes zero.