MyBit beneficiaries are low income workers living in rural Odisha and Karnataka states of India. MyBit aims to promote greater enrolment and regular participation in Government of India’s contributory old-age pension scheme called the Atal Pension Yojana (APY).

MyBit beneficiaries are approached and enrolled by our trained field staff working in these states. The process of enrolment begins with an hour-long knowledge session conducted in the subject village. At the end of the session, those participants who are interested in joining APY are offered individual assistance in filling up the enrolment forms and connected to neighbourhood banks for onboarding.

MyBit supports two types of donations: a) contribution to a monthly lottery, b) individual contribution. In a), your contribution is used to fund a monthly lottery pool and the total money collected is distributed among the lottery winners at the end of the month. In b), your contribution is directly transferred to the savings bank account of the beneficiary you select instead of being added to the larger lottery pool.

We will not reveal your identity to the beneficiaries without your prior consent. Before you choose the payment modality for the donation, you would be asked whether you would like to stay anonymous.

Every month, we seek to collect up to Rs 10,000 (~$150) for the lottery fund. Additional money raised will be rolled over to the next month. The monthly draw will select prize winners from among the list of new enrolments and existing APY subscribers who have paid their last instalment. The award money will be transferred to the winners’ bank accounts as a copayment incentive for their continued participation in the APY program.

There are no specific limits. The monthly installment for APY can range from Rs 42 to Rs 1455 depending on the vesting period of the beneficiary and the monthly guaranteed income that he/she signed up for.

Yes, 100% of your contribution is directed to the beneficiary. MyBit relies on other sources of income such as institutional donations and partner commissions for its sustenance, hence it does not charge any overheads on your donations.

APY stands for Atal Pension Yojana which is a low-cost old-age pension program of the Indian government designed for the disadvantaged and economically weaker sections of society that guarantees monthly pension of up to Rs 5000 after h/she turns 60. Any person in the age group 18 to 40 years is eligible to join APY and make regular monthly contributions to his/her APY account.

Yes, the Government of India provides up to 50% of the beneficiary's contribution up to a maximum of Rs 1000 per annum if he/she joined the scheme befor March 31, 2016.

The matching benefit provided by the Government of India is only extended to those subscribers who joined the APY scheme before March 31, 2016. Moreover, as of now, the support will be made available only for a 5-year period till 2019-2020. The beneficiary has to contribute regularly to his APY account and cannot have any pending monthly installments in order to be eligible for the co-contribution.

You will receive an e-mail message within 72 hours that will provide the transfer details.

Yes, if you are based in India, you can pay by cheque or make a cash deposit at the nearest Axis bank branch. Please write to us at crosslinksfoundation@gmail.com for details.

Yes. MyBit website uses HTTPS, so that your browser only communicates with our server over a secure channel. Also, we do not store your credit card information on our servers.

Please visit Pension Fund Regulatory and Development Authority for further details on the National Pension Scheme.