Each month a direct account will come to Rs 10,000, know today complete details about this scheme
You may not even know how many schemes the government runs. Some of the schemes are nationwide which are run by the central government while some schemes are limited to the state. But we cannot take advantage of these schemes because of insufficient information. So today in this article we are going to talk about a similar scheme.
If you have someone in your household who is above the age of 60 and you want to invest in something in their name and you want to invest your lifetime income in a safe place. If this article is for you. The Prime Minister’s Vyandana Yojana (PMYY) scheme will be very useful to all of you who want a safe return, so know today about the full details of the scheme.
After investing under PMYY, seniors can get a maximum pension of about Rs 10,000 a month without any loss of investment amount. If you also want to invest in Prime Minister Vandana’s plan and want to know the whole process, read this article by the end.
It is a pension plan scheme, under this scheme, citizens over the age of 60 receive a guaranteed return of 8 or 8.3 percent on their investment amount. The 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 31st March 2020. Prime Minister Via Vandana’s plan is a pension scheme available to older citizens. Upon selecting a monthly pension, senior citizens receive a guaranteed pension at a fixed rate for 10 years under the scheme. The plan also offers death benefits.
Know What is Eligibility?
The minimum age for admission to the scheme is 60 years. That means senior citizens 60 years or more can invest in it. There is no maximum age limit. An individual can invest a maximum of Rs 15 lakh in this scheme.
Learn how to apply?
An application form has to be filed for this. The required documents need to be attached to this form. Senior citizens can also apply to the scheme online.
And for this, I have to use a link to https://eterm.licindia.in/onlinePlansIndex/pmvvymain.do.
Find out what documents you will need:
-Copy of a card
– Proof of evidence (Aadhaar, copy of passport)
– Copy of the first page of the bank passbook, in which the account holder needs a pension. Evidence other than this is to be provided if needed
What to keep in mind?
Loan facility is available on PMVVY after three years of this policy. The maximum loan amount cannot be more than 75% of the purchase price. Tax benefits like other government pension plans are not available in the scheme.
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