Pradhan Mantri Vaya Vandana Yojana: By investing in Pradhan Mantri Vaya Vandana Yojana, you can get a monthly pension of Rs 9,250 every month.
Pradhan Mantri Vaya Vandana Yojana: If you are planning for your retirement and looking for a safe investment option, you can deposit your money in Pradhan Mantri Vaya Vandana Yojana (PMVVY), which helps Indian citizens in their old age. It is a government scheme operated with the objective of providing social security inAlso Read: Before giving a check in the bank, know this new rule of RBI, otherwise you may have to face huge loss
Know- What is Pradhan Mantri Vaya Vandana Yojana?
This scheme operated by Life Corporation of India (LIC) aims to provide an assured minimum pension to senior citizens based on their purchase price or subscription amount. Under the Pradhan Mantri Vaya Vandana Yojana, investors can start receiving pension as soon as they turn 60.
Under the PMVVY scheme, investors have been assured a return of 7.40% p.a. for the current financial year. The government decides whether to revise the interest rate at the end of every financial year.
How to get Rs 9,250 monthly pension?
To get a monthly pension of Rs 9,250 for 10 years, investors need to invest at least Rs 15 lakh. After completion of 10 years period, PMVVY will return the order worth Rs 15 lakh to the customer.Also Read: Train ticket booking made easy with IRCTC iPay, refund will be given immediately on cancellation, know the way here
Also, both husband and wife can co-invest in PMVVY to get maximum benefits from the central government scheme. In case of death of the investor, the nominee will get the invested money. The deposit is also given to the nominee in the event of the investor committing suicide.
How to invest in PMVVY?
You can invest online in PMVVY scheme by visiting the official website of LIC. You can also invest offline in the scheme by visiting the nearest LIC office or by contacting the LIC agent. Investors can also exit the scheme within 15 to 30 days of buying the insurance.
