PMVVY: Invest only 15 lakhs and get 10 thousand rupees every month for 10 years

PM Vaya Vandana Yojana invest only 15 lakhs and get 10 thousand rupees every month for 10 years: You can also invest in Pradhan Mantri Vaya Vandana Yojana (PMVVY) launched by the central government for senior citizens. Investments in this scheme can be made by 31 March 2023. It is a pension scheme for citizens 60 years and older. The benefit of this scheme can be availed by paying a lump sum. Earlier, the last date to invest in it was 31 March 2020. Assured payment will be made at the rate of 7.40% per annum. It will be given monthly. That is, it becomes equal to 7.66 percent annually. A maximum of Rs 15 lakhs can be invested in it. You will get a pension of Rs 9,250 every month for 15 lakhs

Explain that during the economic package, the finance minister had extended the Vaya Vandana scheme for three years. That is why LIC has extended this as well. LIC is fully authorized for this scheme. Pradhan Mantri Vaya Vandana Yojana (2020 reformed) is a non-linked, non-partispeting, pension scheme subsidized by the Government of India. This pension plan will be available for sale from 26 May, which will remain till 31 March 2023. It can also be purchased on LIC website or offline.

Also Read: SCSS, PMVVY, monthly income scheme and other senior citizen investment options 2020

7.40 percent return, 10 years term
The term of this policy is 10 years and till March 31, 2021, assured payment will be made at the rate of 7.40 percent per annum for the policy sold. It will be given monthly. That is, it becomes equal to 7.66 percent annually. The rate of pension for the policy that will be sold after 31 March 2021 will be reviewed and decided later. It will be decided by the Ministry of Finance at the beginning of the financial year.

PMVVY: One can buy this policy outright.
This scheme can be purchased by paying outright. The pensioner will have the option to choose the pension amount or the purchase price. At the time of purchase, the pensioner can choose monthly, quarterly, half-yearly or yearly pension. The monthly minimum purchase of the plan can be Rs 162,162. It can be Rs 161,074 in the quarter, Rs 159,574 in the half year and Rs 156,658 annually. Under this, the maximum pension can be obtained monthly of Rs 9,250. It could be Rs 27,750 in the quarter, Rs 55,500 in half and Rs 111,000 annually.

PM Vaya Vandana Yojana: Loan can also be taken in this scheme

On the death of the pensioner during the policy term, the purchase price will be refunded to his nominee or legal heir. Under this scheme up to 75 percent of the purchase price loan can also be taken after three policy years. This scheme can also be removed during severe illnesses. Its surrender value will be 98 percent of the purchase price.

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