Smart steps to claim government benefits through your bank

Government-backed financial schemes are often designed with one goal in mind, to make financial security more accessible. Yet many people either overlook these schemes or assume they are complicated to use. In reality, they are structured to support everyday financial needs, from long-term savings to essential protection.

Understanding what these schemes offer can help individuals build a stronger and more balanced financial foundation. (need a connecting or intro line for the subs here)

National Pension System (NPS)

The National Pension System is a long-term savings scheme supported by the government, where regular contributions are invested across different asset classes.

Key features:

Long-term saving
Offers flexibility in investment allocation
Suitable for salaried individuals, professionals, and business owners

NPS works best when contributions are planned consistently over time.

Atal Pension Yojana (APY)

The Atal Pension Yojana focuses on providing assured income later in life, especially for those without formal pension coverage.

Key features:

Fixed monthly pension after the age of 60
Affordable contribution structure
Predictable and stable outcome

APY is often used to add certainty to long-term financial planning.

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

Key features:

Provides financial support to families during difficult times
Simple structure with wide accessibility
Encourages essential protection for earning members

Pradhan Mantri Suraksha Bima Yojana (PMSBY)

PMSBY provides accident insurance coverage in case of accidental death or disability.

Key features:

Covers unexpected risks that can disrupt income
Affordable protection for individuals and families

Each of these schemes serves a different purpose, savings, income security, or protection. When used together, they form a strong financial safety net rather than standalone benefits. Banks play a key role in enabling access to these schemes, making enrolment, contributions, and ongoing management simpler for customers. At Karur Vysya Bank, these schemes are supported as part of everyday banking, helping customers stay connected to benefits that matter.