Financial security of senior citizens with PM Vaya Vandana Yojana, gives 8% interest for 10 years. Investment limit doubled to 15 lakh rupees and scheme extended till 2020.
The Pradhan Mantri Vaya Vandana Yojana (PMVVY) is a government pension scheme specifically designed to provide financial security and a fixed income stream for senior citizens aged 60 years and above. Administered by the Life Insurance Corporation of India (LIC) on behalf of the government, this scheme offers a guaranteed interest rate of 7.40% per annum for a period of 10 years. [...] The Pradhan Mantri Vaya Vandana Yojana (PMVVY) provides an attractive investment option for senior citizens with its maximum investment limit and competitive interest rate. Under this scheme, individuals can invest a maximum amount of INR 15 lakh, allowing them to secure their financial future. [...] With the maximum investment limit of INR 15 lakh and an interest rate of 7.40% per annum, the Pradhan Mantri Vaya Vandana Yojana offers a compelling opportunity for senior citizens to secure their financial future and enjoy a comfortable retirement.