Business Desk, Web4Study, New Delhi
Updated Tue, 30 Jun 2020 03:37 PM IST
Invest in Pradhan Mantri Vay Vandana Yojana
– Photo: pixabay
Listen to the news
If you want to protect the future of your parents and are considering investing in this scheme, then before investing, know what certificates are required to invest in the scheme and the benefit of the scheme is really How to take…
How to apply in Pradhan Mantri Vay Vandana Yojana?
The Prime Minister can apply for the scheme by visiting the official website of Vay Vandana Yojana and Life Insurance Corporation of India. For this, you have to fill an application form, in which all the necessary information has to be given. Along with this, some certificates must also be submitted. Senior citizens can apply for this scheme online.
Which certificates will be required for the application?
- Applicant will need a copy of PAN card
- Copy of Aadhaar card or passport to show home address
- Copy of first page of passbook so that pension can be transferred
Under the scheme, senior citizens will get a continuous pension for ten years. This pension will be given at a rate and it will be guaranteed. Death benefit is also available under this scheme. Under this, the amount is returned to the nominee and it gets a fixed return of eight per cent.
The deposit is also returned along with the final payment of pension after ten years of investing in the scheme. You can take pension on monthly, quarterly, half-yearly or even yearly basis, the term of this policy is for a maximum period of ten years. Tax is not available on this plan.
How much pension will be received under the scheme?
Under this scheme, investors can invest Rs 15 lakh, besides senior citizens of 60 years or more can also invest in it. Under the scheme, you will get a minimum pension of one thousand rupees and the maximum pension of 10,000 rupees.