New Delhi: PM Vaya Vandana Yojana: There is uplifting news for senior residents. Presently the government has begun ‘PM Vaya Vandana Yojana’ for individuals over 60 years old. Under this, you can get a benefits (Senior Citizens Savings Scheme) up to Rs 1,11,000 yearly.
How lengthy is the period
Pradhan Mantri Vaya Vandana Yojana has been begun to make the old monetarily confident at the significant phase of their life. Its span was till March 31, 2020, however presently it has been reached out till March, 2023.
Who will benefit
The minimum working age to join this plan is 60 years. That is, residents of 60 years or more can put resources into it. There is no maximum age limit under this.
LIC has the obligation
An individual can contribute up to Rs 15 lakh in this plan. The obligation of working this plan has been shared with Life Insurance Corporation (LIC). For annuity in this plan, you need to contribute a singular amount sum. And afterward you can choose month to month, quarterly, half yearly or yearly annuity.
How much will be the yearly annuity
Under this plan, you should contribute Rs 1,62,162 for an annuity of Rs 1000 every month. Under this plan, the most extreme month to month benefits is Rs 9,250, quarterly Rs 27,750, half yearly benefits of Rs 55,500 and yearly annuity of Rs 1,11,000.
Instructions to contribute
You can dial 022-67819281 or 022-67819290 for itemized data about the PMVVY scheme. Aside from this, you can likewise dial tollfree number – 1800-227-717.
Service Tax Exemption
This plan is absolved from Service Tax and GST. What’s more interestingly, you can likewise pull out this cash early for the treatment of any genuine illness or companion.
Required documents
For interest in Pradhan Mantri Vaya Vandana Yojana, it is required for you to have a duplicate of the PAN card, a duplicate of the location evidence, and a duplicate of the main page of the bank passbook.
Loan faciity additionally accessible
There is likewise a loan faacility for you in this plan. In this, you can take a loan on PMVVY following 3 years of the scheme. The maximum loan sum can’t surpass 75% of the price tag. The plan doesn’t give tax reductions like other benefits plans of the government.
