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PMVVY scheme: Interest rate, calculation, details here; married couples plan financially secure future

PMVVY Scheme: For many years, many schemes have been running around the country that can benefit your old age today and tomorrow. The government’s Pradhan Mantri Vaya Vandana Yojana (Pradhan Mantri Vaya Vandana Yojana) for married couples can provide many benefits in the future. This is a pension plan. After retirement, a monthly pension will be paid. In this arrangement, both the husband and wife can receive a pension of Rs 18500. There is no risk of loss, and you will receive your entire money back with interest after ten years.

This scheme is managed by LIC

The administration announced the scheme on May 26, 2020. You can invest in this until March 31, 2023. The Pradhan Mantri Vaya Vandana Yojana is a social security and pension plan. The Government of India brought it. The Life Insurance Corporation of India manages it (LIC). The maximum amount that can be invested under this scheme is Rs 15 lakh.

More benefits for senior citizens

There is also a plan under this that allows both husband and wife to invest Rs 15 lakh separately if they are both over the age of 60. Previously, an individual’s investment maximum was Rs 7.5 lakh, which would be doubled later. Explain that older folks will be more interested in investing in this scheme than in other schemes. People aged 60 and up can select between a monthly or annual pension plan under this arrangement.

Calculate pension investment 

If a married pair spends Rs 15 lakh in this programme, the total investment amount is Rs 30 lakh. The annual interest rate on this programme is 7.40%. This indicates that your annual investment interest would be Rs 222000. It will be Rs 18500 when disbursed in 12 months. This will be your monthly pension.

If, on the other hand, only one person wants to engage in this scheme, he can earn an annual interest of Rs 111000 on a 15 lakh investment and a monthly annuity of Rs 9250.

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