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How can I open pm Vaya Vandana Yojana?

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How can I open pm Vaya Vandana Yojana?

Eligibility for PMVVY The applicant must be an Indian citizen. There is no maximum entry age for PMVVY scheme. Also, the applicant must be ready to avail the policy term of ten years. The minimum purchase price is Rs 1.5 lakh, and it offers a monthly pension of Rs 1,000.

Where do I apply for PMVVY scheme?

The application form for PMVVY LIC pension scheme can be downloaded from the official website of LIC India or obtained from the nearby office of LIC. However, candidates can also purchase the PM Vaya Vandana Yojana pension plan at the official website of LIC India at licindia.in using the below given procedure.

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Can I open PMVVY account online?

Application Process of the PMVVY Scheme Individuals can buy Pradhan Mantri Vaya Vandana Yojana both offline and online from Life Insurance Corporation of India.

How do I apply for PMVVY online?

Online Application

  1. Click on ‘Products’ followed by ‘Pension plans’.
  2. Click on ‘Pradhan Mantri Vaya Vandana Yojana’.
  3. Submit the form with the required details and click on ‘Get Access ID’.
  4. You will get an ID on your mobile or email address.
  5. Now, select the plan as per your needs and fill the form and submit.

Is PMVVY still open?

Pradhan Mantri Vaya Vandana Yojana (PMVVY) is a Pension Scheme announced by the Government of India exclusively for the senior citizens aged 60 years and above which was available from 4th May, 2017 to 31st March, 2020.

Is PMVVY available now?

What is the current rate of interest in Pmvvy?

7.4\%
Pradhan Mantri Vaya Vandana Yojana (PMVVY) provides a government return of 7.4\% p.a. payable monthly. In case you subscribe for monthly pension scheme, the 7.4\% annual interest is equivalent to 7.66\% p.a. Since the scheme essentially operates as a pension plan, it does not attract any GST or service charge.

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Is GST applicable on Pmvvy?

Tax benefits: Pradhan Mantri Vaya Vandana Yojana (PMVVY) scheme does not provide tax deduction benefit under section 80C of the Income Tax Act. The scheme is exempted from Goods and Services Tax (GST).