For Quick Alerts
For Daily Alerts

    PMVVY Scheme: Senior Citizens To Get Upto Rs. 10,000 Per Month


    The Union cabinet chaired by Prime Minister Narendra Modi on Wednesday decided to increase the investment limit under Pradhan Mantri Vaya Vandan Yojana (PMVVY) to Rs. 15 lakhs from the current Rs. 7.5 lakhs. The scheme enables senior citizens to get some steady income on a regular basis.

    PMVVY Scheme: Senior Citizens To Get Upto Rs. 10,000 Per Month

    The scheme fetches an assured pension amount on the basis of guaranteed return of 8% per annum for 10 years. With this investment limit hike, investors will be able to get a pension amount of up to Rs. 10,000 on a monthly basis. Furthermore, the cabinet approved the time period of subscription to the scheme from May 4, 2018 to March 31, 2020.

    The scheme catered to by the LIC provides interest rate protection due to uncertain market conditions. And subscribers of the scheme have the option to opt for monthly, quarterly, half-yearly or annual basis.

    The interested senior citizens aged 60 years and above and enroll in the scheme by opening the account either offline or online.

    Read more about: pmvvy pension senior citizens
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more