10,000 per month will be directly credited to the account .

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You may not even know how many schemes the government runs. Some schemes are nationwide run by the central government while some schemes are limited to the state. But we cannot take advantage of these schemes as the information is incomplete. So today in this article we are going to talk about one such scheme.

10,000 per month will be directly credited to the account


If there is someone in your household who is over 60 years of age and you want to invest something in their name and you want to invest your lifetime earnings in a safe place. If this article is for you. The Pradhan Mantri Vay Vandana Yojana (PMYY) scheme will be very useful for all of you who want a safe return, so find out the complete information about this scheme today.

After investing under PMYY, senior individuals can avail a maximum pension of about Rs 10,000 per month without any loss of the amount invested. If you also want to invest in PM Vandana Yojana and want to know the whole process, read this article till its end.

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It is a pension scheme scheme, under which citizens above the age of 60 get a guaranteed return of 8 or 8.3 per cent on the amount they have invested. 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. Pradhan Mantri Via Vandana Yojana is a pension scheme available for senior citizens. Upon choosing a monthly pension, senior citizens get 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 older can invest in it. There is no maximum age limit. One person can invest a maximum of Rs 15 lakh in this scheme.

Learn how to apply?

An application form has to be filled for this. Necessary documents need to be attached with this form. Senior citizens can also apply for the scheme online.

And for this, you have to use the link https://eterm.licindia.in/onlinePlansIndex/pmvvymain.do.

Find out what documents will be required:

-Copcard of PAN card

-Evidence in address (base, copy of passport)

-Copy of the first page of the bank passbook, in which the account holder needs a pension. Apart from this other proofs have to be given if required.

What to keep in mind?

Loan facility is available on PMVVY after three years of this policy. The maximum loan amount cannot exceed 75% of the purchase price. Tax benefits like other pension schemes of the government are not available in the scheme.

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