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Pradhan Mantri Vaya Vandana Yojana

**Pradhan Mantri Vaya Vandana Yojana (PMVVY)** is a pension scheme for senior citizens aged 60 years and above. It provides assured pension based on a guaranteed rate of return.

Steps to Apply

  1. 1Visit LIC office or website
  2. 2Fill application form
  3. 3Submit required documents
  4. 4Make lump sum payment
  5. 5Receive policy document

Eligibility

  • Senior citizens aged 60 years and above
  • Indian residents
  • Valid bank account
  • KYC compliant

Benefits

  • Guaranteed pension for 10 years
  • Monthly/quarterly/yearly payout options
  • Loan facility available
  • Return of purchase price to nominee
  • Tax benefits

Requirements

  • Age proof
  • Identity proof
  • Address proof
  • Bank account details
  • Recent photographs

Frequently Asked Questions

What is the minimum investment amount?
The minimum investment amount is ₹1,56,658 for a pension of ₹1,000 per month.
Can I exit prematurely?
Premature exit is allowed in exceptional circumstances with 98% of purchase price.

Disclaimer

The information provided here is based on publicly available resources. We strive to keep it up to date, but it is always advisable to consult official documentation or contact the relevant authorities to verify the details before making any decisions or taking action.

We are not liable for any discrepancies, damages, or consequences that may arise from the use of this information. Additionally, we do not take responsibility for any SMSD (Short Message Service Delivery) issues or related concerns that may arise from our services.

More About This Scheme

PMVVY provides financial security to senior citizens through guaranteed pension payments and protection against interest rate fluctuations.

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