Compare with other schemes, this one is better than FDs of other banks. The reason for this is that most of the well-known banks give interest at the rate of about 6.5 percent on FD schemes of 1 to 10 years, while LIC is giving interest from 7.40%. At the same time, under this scheme, you will also be given the option to choose annual, half yearly, quarterly or monthly pension.
To make our future secure, we think of investing in such a scheme, which gives us more benefit. In such a situation, we have many options, but the best option at this time is the Pradhan Mantri Vaya Vandana Yojana (PMVVY) of Life Insurance Corporation (LIC). If you too are now planning to invest money in any scheme and want to get maximum benefit, then you can invest in it before 31st March. Under this, you will get a fixed amount every month for 10 years at the rate of 7.4 percent per annum.
Interest rate may change in next financial year
Let us tell you, this scheme of LIC will continue till March 31, 2023 next year, however, its interest rate may also change in the next financial year. According to LIC, in the financial year 2021-22, the rate of monthly pension for 10 years under this scheme has been fixed at 7.40 percent. Let us tell you, if you buy it before the end of this financial year or invest in this scheme, then you will continue to get this pension at the same rate for the policy term i.e. 10 years.
How is it better than other plans?
Compare with other schemes, this one is better than FDs of other banks. The reason for this is that most of the well-known banks give interest at the rate of about 6.5 percent on FD schemes of 1 to 10 years, while LIC is giving interest from 7.40%.
Apart from this, you will also be given the option to choose annual, half yearly, quarterly or monthly pension under this scheme. Also, on the basis of this, the interest rate of Pradhan Mantri Vaya Vandana Yojana can also be 7.4 to 7.6 percent per annum.
How much can be invested up to Rs.
Pradhan Mantri Vaya Vandana Yojana is a one-time lumpsum investment, in which the amount is deposited simultaneously for 10 years. Also, the customer is given the option of monthly, quarterly, half yearly and yearly for his regular income.
In this, the beneficiary can invest a maximum of Rs 15 lakh. If someone invests Rs 15 lakh, then he gets a pension of Rs 9250 every month. At the same time, if both husband and wife are above 60 years of age, then you can buy two policies of Rs 15 lakh each. With this, he will be able to get a pension of Rs 18500 every month for 10 years. Let us tell you, the minimum age to buy the policy is 60 years.
