PMVVY Scheme Update 2023: Know, who can apply in PM Vaya Vandana Yojana, purchase price, how to buy.
PMVVY Scheme Update 2023: Pradhan Mantri Vaya Vandana Yojana (Pradhan Mantri Vaya Vandana Yojana) was launched in 2019 to provide a regular source of income to senior citizens! Applications for this are being accepted till 31 March 2023! This scheme (PMVVY) is offered by LIC and has a tenure of 10 years with guaranteed monthly income.
Anyone above the age of 60 years can participate in Pradhan Mantri Vaya Vandana Yojana! There is no maximum entry age! The policy term is 10 years from the date of issue. The total amount of all policies held by a senior citizen under the PMVVY scheme cannot exceed Rs 15 lakh.
purchase price
In Pradhan Mantri Vaya Vandana Yojana (Pradhan Mantri Vaya Vandana Yojana) it depends on the pension payment options chosen! Annual, half-yearly, quarterly or monthly! Under the annual pension option, the policy can be bought with a minimum of Rs. 1,56,658 (for Rs. 12,000 annual pension) to a maximum of Rs. 14,49,086 (for Rs. 1,11,000 annual pension)! In terms of monthly in the scheme (PMVVY), the price ranges from Rs 1,62,162 (Rs 12,000 annual pension) to Rs 15 lakh (Rs 1,11,000 annual pension)!
online offline
Pradhan Mantri Vaya Vandana Yojana (Pradhan Mantri Vaya Vandana Yojana) can be purchased from LIC registered agent or online through the website www.licindia.in!
Both husband and wife can avail
If the couple has crossed the age of 60 and wants to invest! So he can separately invest up to Rs 15 lakh in this Pradhan Mantri Vaya Vandana Yojana! Under this, both can invest up to Rs 30 lakh. The maximum interest of 7.40 percent is being given in this scheme. In this scheme (PMVVY) people aged 60 years or above can opt for monthly or annual pension scheme.
How much investment, how much amount: PMVVY Scheme
If husband and wife invest separately. So the total amount will be 30 lakh rupees! Under this scheme (PMVVY), interest will be given at the rate of 7.40 percent, that is, the annual interest will be Rs 222000! And if distributed in 12 months, this amount will be Rs 18500! Means in Pradhan Mantri Vaya Vandana Yojana (Pradhan Mantri Vaya Vandana Yojana), this amount will be given as pension every month!
PMVVY Scheme New Update : PMVVY Scheme Update 2023
Wherein if only 1 person wants to invest in this Pradhan Mantri Vaya Vandana Yojana (Pradhan Mantri Vaya Vandana Yojana)! So he can get an annual interest of Rs 111000 in the scheme (PMMVY) on an investment of 15 lakhs! And he will get Rs 9250 monthly!
Benefits: Pradhan Mantri Vaya Vandana Yojana
In Pradhan Mantri Vaya Vandana Yojana (Pradhan Mantri Vaya Vandana Yojana), the first installment of pension is paid after 1 year, 6 months, 3 months or 1 month from the date of purchase! That depends on the method chosen! Apart from the guaranteed pension at the rate of 7.4% payable monthly, the policy provides death benefit of return of purchase price (PMVVY) to the beneficiary in case of death of the pensioner during the policy term.
Things to note: PMVVY Scheme Update 2023
- In Pradhan Mantri Vaya Vandana Yojana (Pradhan Mantri Vaya Vandana Yojana), a loan can be obtained on the policy after completion of three years up to a maximum of 75% of the value of the policy!
- The policy in the scheme (PMVVY) is subject to freelook period and the customer can return it within 15 days.
All payments will be returned in 10 years: PMVVY Scheme Update 2023
This Pradhan Mantri Vaya Vandana Yojana (PMVVY) is for 10 years! However, you will continue to get pension (Monthly Pension Scheme) every month on your deposited money! If you stay in this scheme for 10 years! So after 10 years you got your investment! Money will be returned! Wherein in this Pradhan Mantri Vaya Vandana Yojana (Pradhan Mantri Vaya Vandana Yojana) you can leave anytime!
