Pradhan Mantri Vaya Vandana Yojana (PMVVY) 2020

Pradhan Mantri Vaya Vandana Yojana (PMVVY) 2020 is a pension scheme for senior citizens. This scheme is guaranteed payout of pension at a specified rate for ten years . It scheme offer a death benefit in return of purchase price of nominee. This policy is extended to 31st march 2020.

Eligibility-

  • Minimum entry age 60 years completed and maximum age no limit.
  • Policy term is 10 years.
  • Limit of investment is rs. 15 lakh per senior citizen
  • Minimum pension amount is rs. 1,000 per month and rs. 3,000 quarterly and rs. 6,000 half yearly and rs. 12,000 annually.
  • Maximum pension amount is rs. 10,000 per month and rs. 30,000 quarterly and rs. 60,000 half yearly and 1,20,000 annually.

Benefits-

  • Scheme provide return 8% p.a. payable monthly for 10 years.
  • Pension is payable end of each period.
  • Surrender value- 98% of purchase price.
  • Loan facility- 75% of purchase price
  • The family is comprise of pensioner, his/her spouse and dependents.
  • On death of pensioner during the policy terms of 10 year, the purchase price paid to the beneficiary.

Apply for this scheme and use benefit fill up documents details and attached with form and use online official link of Pradhan Mantri Vaya Vandana Yojana (PMVVY). Required documents is-

  • Pan card copy
  • Address proof ( Adhar card, Passport )
  • Cheque or bank passbook photo copy

  Minimum Maximum
Age 60 Years (Completed) No Limit
Policy Term 10 Years
Pension Mode Monthly, Quarterly, Half-yearly or Yearly
Purchase Price Rs. 1,50,000 for monthly
Rs. 1,49,068 for quarterly
Rs. 1,47,601 for half-yearly
Rs.1,44,578 for yearly
Rs. 15,00,000 for monthly
Rs. 14,90,683 for quarterly
Rs. 14,76,015 for half-yearly
Rs. 14,45,783 for yearly
Pension Amount Rs. 1,000/- per month
Rs. 3,000/- per quarter
Rs.6,000/- per half-year
Rs.12,000/- per year
Rs. 10,000/- per month
Rs. 30,000/- per quarter
Rs. 60,000/- per half-year
Rs. 1,20,000/- per year

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