Pradhan Mantri Vaya Vandana Yojana in Hindi | PM vaya vandana yojana details | pmvvy scheme details

Best Monthly Income 2020 प्रधानमंत्री वय वंदना योजना . Pradhan mantri vaya vandana yojana सरकार ने अब 2023 तक इसे बढ़ाया. PMVVY 2020 Extra benefit along with SCSS. Scheme is providing same benefit like SCSS and scheme is good for Sr. Citizen who want to invest more than 15L in SCSS. Only Sr. Citizen – age above 60+ can open this account. Can be open in LIC of India Only Investment possible only till March 31, 2023 as of now. Guaranteed payout of pension/interest at a specified rate for 10 years. Current rate is equal to SCSS i.e. 7.4% per annum.

#PMvayavandanayojana #MonthlyScheme2020

pradhan mantri vaya vandana yojana interest rate 2020

Benefit of lock-In interest for 10Y
At Maturity amount invested will be returned fully.
Pension/Interest payout options – monthly, quarterly, Half Yearly or Yearly

Premature closure of the scheme – in case of need
In case of death of a/c holder - full amount return to Nominee.
Treatment of any critical/terminal illness of self or spouse - 98% of Purchase Price

Loan facility is available after completion of 3 policy years. The maximum loan that can be granted shall be 75% of the Purchase Price.

Conclusion – SCSS or PM VVY
If Sr. Citizen looking to Park retirement money in fixed income up to 30L then they can invest in both SCSS or PM VVY. And monthly payout of Rs18500. Rs 55500 Quarterly
Husband and Wife can invest total 60L in both Scheme

When interest rates are high, it is good to invest in PMVVY then you get benefit of high interest for 10Y
In case of low interest cycle SCSS is better

In case money not required monthly then PMVVY can provide marginal extra interest due to benefit of compounding on Yearly payout.

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