Pradhan Mantri Vaya Vandana Yojana Interest Rate 2022: If you come under the count of senior citizens, then you must read this news. Senior citizens have only 3 months and a few days to subscribe to the Pradhan Mantri Vaya Vandana Yojana (PMVVY). The Central Government made this scheme by the Life Insurance Corporation of India (LIC) keeping senior citizens in mind, it is a pension scheme, in which you get the benefit of 7.4 percent per annum interest rate on investment every month. You can take advantage of this rate of pension till March 31, 2023.
what is the plan
The people who want to take advantage of the PMVVY scheme, they have to take care of some important things. The minimum age of entry of any person in this scheme should be 60 years or more. Also there is no limit on the maximum age of admission. The term of the policy is 10 years. In this you can invest every month, quarter, six months and annually. Also, the minimum pension can be taken as 1,000 monthly, 3,000 quarterly, 6,000 half yearly and Rs 12,000 annually respectively. The maximum pension that can be earned is Rs.10,000 per month, Rs.30,000 quarterly, Rs.60,000 half-yearly and Rs.1,20,000 annually respectively.
when did the plan start
The central government has started a pension scheme called Pradhan Mantri Vaya Vandana, which was started on 4 May 2017, but now you can get its benefits till 31 March 2023. In the budget speech of the year 2018-2019, the central government has increased the maximum limit under the Pradhan Mantri Vaya Vandana Yojana from Rs 7.50 lakh to Rs 15 lakh.
LIC is giving the benefit of the scheme
You can take this plan from LIC. You can take this scheme from LIC both online and offline. The main objective of this scheme is to give regular pension to senior citizens during the fall in interest rates.