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Big decision, now you will be able to take advantage of Pradhan Mantri Vaya Vandana Yojana till 31 March 2023, know eligibility, necessary documents (PMVVY Online Application)

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Pradhan Mantri Vaya Vandana Yojana:- Recently the central government has started a scheme again, the name of this scheme is “Pradhan Mantri Vaya Vandana Yojana” (PMVVY), Under this scheme, there is a provision to give monthly pension to the old people above 60. Today in this article we will know who can take advantage of this scheme and what are the benefits of this scheme. All this has been told to you in detail in this article. Stay with us and don’t forget to share the site.

Pradhan Mantri Vaya Vandana Yojana 2022

Let us tell you that in the cabinet meeting chaired by Prime Minister Narendra Modi on Wednesday, it was decided that ‘Pradhan Mantri Vaya Vandana’ (PMVVY) should be started once again. And at the same time, the rate of annual rate of return available in this has been reduced to 7.4%. Earlier this rate of return was 8.0%.

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Social Security Scheme of Senior Citizens (Pradhan Mantri Vaya Vandana Yojana) is now for three years i.e. 31 March 2023 has been extended to. The fact is that its period ended on 31 March 2020. Therefore its period was extended. This scheme will be implemented through Life Insurance Corporation (LIC).

Information about PM Vaya Vandana Yojana

age 60 Years (Completed) No limits
policy term 10 years
pension mode Monthly, Quarterly, Half Yearly and Yearly (in Rs.)
purchase price 1,50,000 monthly
1,49,068 quarter
1,47,601 half yearly
1,44,578 per annum
15,00,000 Monthly
14,90,683 Quarter
14,76,015 half yearly
14,45,783 Annual
pension amount 1,000/- monthly
3,000/- quarterly
6,000/- half yearly
12,000/- per annum
10,000/- Monthly
30,000/- quarterly
60,000/- half yearly
1,20,000/- per annum

How to get the benefit of Pradhan Mantri Vaya Vandana Yojana:

Maximum investment amount 15 lakhs:- Under this scheme, the maximum investment amount can be doubled to 15 lakh per senior citizen. In the ten year pension plan, monthly, quarterly, half yearly, yearly can be taken.

The rate of interest will be as per Senior Citizen Savings Scheme:- Financial Accountability Under this scheme LIC rate of return on investment amount has been reduced to 7.4%, this interest rate is for 2021-22. After that, the interest rate of this scheme will be fixed every year according to the Senior Citizen Savings Scheme.

Pradhan Mantri Vaya Vandana Yojana

Who is this plan for?

The benefit of this scheme is only for the elderly. Under the Pradhan Mantri Vaya Vandana Yojana, pension arrangements are made for senior citizens. This entire process is under LIC. The benefit of this scheme is available only after the age of 60 years.

pension options

  • monthly
  • quarter
  • half yearly
  • There is an option to take it on an annual basis, you can choose any option as per your wish.
  • Pension will be paid through NEFT or through Aadhaar enabled payment system.

Eligibility of Pradhan Mantri Vaya Vandana Yojana:-

  • Minimum 60 years in PMVVY (maximum no limit)
  • He should be a citizen of India.
  • Maximum investment up to Rs 15 lakh.

What are the documents required for Pradhan Mantri Vaya Vandana Yojana?

  • your aadhar card
  • Original residence in the form of address or copy of any address proof
  • PAN card is mandatory.
  • Bank account number
  • bank check book

How to Apply for Pradhan Mantri Vaya Vandana Yojana

If you want to apply in this scheme, then you have to go to the office of LIC (Life Insurance Corporation of India) to apply. You can fill the application form by visiting LIC’s office. Please tell that its online facility has not been given yet. In a few days, this facility will be started as before. Get the form of this scheme by going to LIC’s office and you can submit it to any LIC office by putting the necessary documents in it.

How much pension is available under Pradhan Mantri Vaya Vandana Yojana.

Let us tell you that under this scheme, you can take the benefit of pension from a minimum of Rs 1,000 to a maximum of Rs 10,000. If you want a pension of Rs 1,000 per month, then you have to deposit Rs 1,50,000. Apart from this, if you want to get a pension of Rs 10,000 per month, then you will have to deposit Rs 15,00,000. The calculation has been done on the basis of PMVVY that ended on 31st March 2020.

Tollfree Number of Pradhan Mantri Vaya Vandana Yojana (Helpline Number)

For more information you can call on 022-67819281 or 022-67819290. Toll free number 1800-227-717 and email id- [email protected] Is.

Apart from this, you can visit the official website of the concerned scheme for more details. This is not an official website and not related by any ministry. After studying this article, you should once visit the official website and get the information related to this scheme.

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