PM Vaya Vandana Yojana: There is uplifting news for senior residents. If you enjoy not taken benefit of PM Vaya Vandana Yojana till now, then pick up the pace. 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 every year.
Time Duration
Pradhan Mantri Vaya Vandana Yojana has been begun to make the older monetarily independent at the critical phase of their life. Its length was till March 31, 2020, however presently it has been reached out till March, 2023. In any case, it is being informed that a few changes can be made in this in the new monetary year.
who will benefit
The base age to join this plan is 60 years. That is, residents of 60 years or more can put resources into it. There is no most extreme 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 benefits in this plan, you need to contribute a single amount sum. And afterward you can decide on month to month, quarterly, half yearly or yearly benefits.
How much will be the yearly benefits
Under this plan, you should contribute Rs 1,62,162 for a benefits of Rs 1000 every month. Under this plan, the greatest 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.
Step by Step instructions to contribute
You can dial 022-67819281 or 022-67819290 for point by point data about the PMVVY conspire. Aside from this, you can likewise dial toll free 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 quite a bit early for the treatment of any serious disease of spouse.
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 address proof, and a duplicate of the primary page of the bank passbook.
Loan facility likewise accessible
There is additionally a loan facility for you in this plan. In this, you can take a loan on PMVVY following 3 years of the policy. The greatest loan sum can’t surpass 75% of the price tag. The plan doesn’t give tax reductions like other annuity plans of the government.
