Pradhan Mantri Vay Vandana Yojna (PMVVY) 2020
If there is someone in your house who is above 60 years of age and you want to invest something in their name or your own age is over 60 years and you want to invest your lifetime earnings in a safe place then read this article,this is for you. Investing in Pradhan Mantri Vaya Vandana Yojana (PMYY) is a great option for all those who want a safe return.
After investing under PMYY, senior persons can take a maximum pension of 10,000 rupees per month without any loss of the invested amount. If you also want to invest in the Prime Minister’s Vandana Yojana and want to know the entire process, then read this article till the end for it.
Pradhan Mantri Vaya Vandana Yojana (PMVVY 2020)
It is a pension scheme scheme, under this scheme, citizens of 60 years of age and above get 8 or 8.3 percent guaranteed return on their invested amount. This scheme is also excluded from the Good and Service Tax. The scheme was launched in the year 2017 and now the last date to invest in the scheme is 31 March 2020
How much can you Invest in this scheme ?
Under the PMYY scheme, if you want to get pension annually, the minimum investment amount will be Rs 1,44,578 and the maximum investment amount will be Rs 14,45,783. If you want monthly pension as return, then the minimum investment amount can be Rs 1,500,000 lakh and maximum Rs 15 lakh.
How much pension will you get ?
If you invest the minimum amount, you will get a monthly pension of at least 1000 rupees, while if the investment amount is maximum then the pension is given Rs 10000 per month.
Benefits of PMVVY
There are many benefits of Pradhan Mantri Spend Vandana Yojana like first of all your entire amount is safe. Apart from this, after three years of investing in it, you can also take a loan through this scheme. However, the loan amount can be up to 75% of the invested amount. The interest rate of loans taken before 2018 by the Vyand Vandana scheme was 10 percent per annum.
When will you get the accumulated money ?
The amount invested in this scheme is returned with a final installment of pension after a period of 10 years. If the investor dies within ten years of investing in the Vayya Vandana scheme then the entire amount is transferred to the nominee.
To avail Pradhan Mantri Vaya Vandana Yojana, the applicant must be at least 60 years old. Apart from this, the maximum age can be whatever.
The applicant must have an Aadhar card or other address proof.
It is mandatory for the applicant to have a bank account.
How to apply for LIC Pradhan Mantri Vay Vandana Policy
Buy Online-To avail the Prime Minister’s Vandana Yojana, you have to click on the given link and fill all the required information.
Go to this page.
Here you have to click on “Buy Online” link under “Pradhan Mantri Vaya Vandana Yojana (842)” option.
After doing this, a new page will open in which important information about the scheme will be available
After reading the information, click on the link “Click to Buy Online”. Before you your contact information will be asked and an access ID will be provided through which you will be able to apply online.
For more information on PMVVY please go to lic india official page.