You can get more than 1 lakh every year by investing money in this scheme of PM Modi! Click here to know the whole process

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The date of investment in senior citizens' PMVVY has now been extended to 31 March 2023. In a meeting chaired by PM Modi a few days ago, the scheme was given a 3-year extension. The fixed rate of return for the FY 2020-21 in PMVVY has been kept at 7.4% per annum. This rate changes every year.

Who can invest in this scheme?

Any Indian citizen who is 60 years of age or above can invest in PMVVY.

How much investment can be made in the scheme?

In the PMVVY scheme, one can invest up to Rs 15 lakh for senior citizens. You also get the option of a monthly pension. Under this scheme, a guaranteed pension is given by the government at a fixed rate for 10 years.

What is the pension or return calculation?

If someone deposited Rs 15 lakh in the PMVVY scheme, then he will get a total interest of Rs 1 lakh 11 thousand at the rate of 7.4 percent. According to the calculation, the amount of the person concerned will be Rs 16,11,000 a year after investing 1.5 million. If you invest in 10 years, you will get a benefit of Rs 11 lakh 10 thousand.

The scheme

PMVVY is implemented by LIC under the supervision of LIC. That is, its accounting is under the supervision of LIC. Money can be added online and offline. The pensioner has the facility of making monthly, quarterly, half-yearly, yearly, or lump sum pension. The interest rate also varies depending on the amount.

Rajasthan Tourism App - Welcomes to the land of Sun, Sand and adventures