New Delhi: An efficient financial plan is needed to save money as most of the people want to lead a quality life which demands a costly endeavor. Permanent retired living has become an easy way to pay for chores. Here are the details of one of the government schemes where you can invest and get safe returns from there. Let us find out why one should invest in this scheme.
What is Pradhan Mantri Vaya Vandana Yojana?
Pradhan Mantri Vaya Vandana Yojana is being run by the Central Government. Under this, a monthly pension is guaranteed to married couples. This scheme was launched by the central government on May 26, 2020. Couples have the option to invest till March 31, 2023. ,Also Read: Dhanteras 2022: How To Invest In Digital Gold That Starts At Re 1,
Social Security Scheme is brought by the Government of India and is operated by Life Insurance Corporation of India (LIC). Couples have to cross 60 years of age to invest in this scheme. They can invest a maximum of Rs 15 lakhs. Earlier the investment limit was Rs 7.5 lakh, which was later doubled. Senior citizens get more interest here as compared to other schemes. ,Also read: Dhanteras 2022: Why people buy gold, silver and utensils on this day!,
investment plan
Couples will have to invest Rs 8,10,811 separately. This means the total investment will be Rs 16, 21, 622. The interest rate offered here is 7.40 per cent per annum. There is a provision under which you will get 10 thousand rupees as monthly pension.
If only one person invests in this social security scheme, he will get Rs.5,000 as monthly pension and his investment amount will be Rs.8,11,811. The maturity period of this plan is 10 years. You will get your money back after completing the policy term.