प्रधानमंत्री वय वंदना योजना 2024 (PMVVY): ब्याज दर, मेच्योरिटी बेनिफिट, आवेदन प्रक्रिया की पूरी जानकारी

प्रधानमंत्री वय वंदना योजना:- Pradhanmantri Vaya Vandana Yojana, launched by the Government of India on May 4, 2017, is a pension scheme specifically designed for senior citizens aged 60 and above. If they opt for a monthly pension, they receive an 8% interest rate for 10 years. Alternatively, choosing an annual pension option provides them with an 8.3% interest rate for the same period. This scheme ensures that senior citizens receive favorable interest on their investments.

Pradhanmantri Vaya Vandana Yojana 2024

Pradhan Mantri Vaya Vandana Yojana is a Social Security Scheme and Pension Plan administered by the Government of India but operated by LIC. The maximum investment limit was initially Rs 7.5 lakh, but it has now been increased to Rs 15 lakh. The deadline for investment in the PMVVY Scheme has been extended. This article aims to provide comprehensive information about the scheme, including the application process, required documents, eligibility criteria, and guidelines.

Pradhanmantri Vaya Vandana Yojana 2024

Pradhanmantri Vaya Vandana Yojana Overview

Article Topic Pradhanmantri Vaya Vandana Yojana
Launched by Life Insurance Corporation of India
Beneficiaries Citizens of India
Objective To provide all important information about the scheme
Official Website https://www.licindia.in/Home
Category Sarkari Yojana
Year 2024

राजस्‍थान अनुप्रति योजना

Objective Of Pradhanmantri Vaya Vandana Yojana

The primary aim of Pradhan Mantri Vaya Vandana Yojana is to offer pensions to senior citizens in India. This pension is provided by earning interest on their investments. The scheme promotes self-reliance among senior citizens, ensuring they are financially independent and not dependent on others in their old age.

Some important information related to PM Vaya Vandana Yojana

  • An interested senior citizen can invest a maximum lump sum of ₹1,500,000 in Pradhan Mantri Vaya Vandana Yojana and receive a tax-free pension of ₹10,000 per month.
  • While the lump sum is tax-free under Section 80C, the interest received is taxable.
  • Opting for monthly pension yields an 8% interest rate, and an annual pension results in an 8.3% interest rate.
  • The policyholder can choose to receive pensions monthly, quarterly, half-yearly, or annually over the 10-year term.
  • No medical test is required to join the scheme, and after 10 years, the deposited amount is returned along with the final pension payment.
  • If the policyholder passes away within 10 years, the nominee receives the deposited amount.

Prime Minister Vaya Vandana Yojana Purchase Price and Pension Amount

Mode of Pension Minimum Purchase Price Pension Amount (Minimum) Maximum Purchase Price Pension Amount (Maximum)
Annual ₹156,658 ₹1,200 per annum ₹1,449,086 ₹111,000 per annum
Half-Yearly ₹159,574 ₹6,000 half-yearly ₹1,476,064 ₹55,500 per half-yearly
Quarterly ₹161,074 ₹3,000 per quarter ₹1,489,933 ₹27,750 per quarter
Monthly ₹162,162 ₹1,000 per month ₹1,500,000 ₹9,250 per month

Diupmsme उत्तर प्रदेश

Benefits of Pradhan Mantri Vaya Vandana Yojana

  • Pradhan Mantri Vaya Vandana Yojana is not designed for tax savings; instead, it functions as an investment scheme.
  • Citizens aged 60 and above can invest up to Rs 15,00,000, and in return, they receive pensions ranging from ₹1,000 to ₹9,250 per month.
  • Returns from this scheme are taxed according to existing tax laws and rates.
  • Notably, Pradhan Mantri Vaya Vandana Yojana is exempt from GST, unlike Tom Insurance, which is subject to 18% GST on all General Insurance.
  • Additionally, citizens cannot claim deductions under Section 80C of the Income Tax Act for investments made in this scheme.

Vaya Vandana Yojana Free Look Period

A policyholder dissatisfied with Pradhan Mantri Vaya Vandana Yojana can return it within 15 days (for offline purchases) or 30 days (for online purchases). When returning, the reason must be provided. The refunded amount will be the purchase price minus the stamp duty and the deposited pension amount.

Odisha Ration Card

Vaya Vandana Yojana Minimum & Maximum Pension Amount

Mode of Pension Minimum Pension Maximum Pension
Annual Rs 12,000 Rs 1,11,000
Half-Yearly Rs 6,000 Rs 55,500
Quarterly Rs 3,000 Rs 27,750
Monthly Rs 1,000 Rs 9,250

Vaya Vandana Yojana Minimum and Maximum Purchase Price

The minimum and maximum purchase prices for different pension modes under Pradhanmantri Vaya Vandana Yojana are as follows.

Mode of Pension Minimum Purchase Price Maximum Purchase Price
Annual Rs 1,44,578 Rs 7,22,892
Half-Yearly Rs 1,47,601 Rs 7,38,007
Quarterly Rs 1,49,068 Rs 7,45,342
Monthly Rs 1,50,000 Rs 7,50,000

PMVVY Scheme interest rates

Pension Option Fixed Interest Rate
Monthly 7.40%
Quarterly 7.45%
Half-Yearly 7.52%
Annually 7.60% per annum

Safal Odisha Portal

Pradhanmantri Vaya Vandana Yojana Payment

You can choose to pay for Pradhanmantri Vaya Vandana Yojana monthly, quarterly, half-yearly, or annually. Payments can be made using either NEFT or the Aadhaar-enabled payment system.

Maturity benefits of Pradhan Mantri Vaya Vandana Yojana 2024

  • If the pensioner lives through the 10-year policy term, they receive both the pension and the deposited amount.
  • In the event of the pensioner’s demise, the deposited amount is returned to the nominee, provided 10 years of the policy term have been completed.
  • If the pensioner commits suicide, the deposited amount will also be returned.

Some important points of PM Vaya Vandana Yojana

  • Pradhan Mantri Vaya Vandana Yojana offers pensions to citizens aged 60 and above.
  • To receive the pension, beneficiaries pay a premium based on the chosen mode—monthly, quarterly, half-yearly, or annually—for the 10-year policy term.
  • In case of the beneficiary’s demise, the legal heir receives the purchase price of the pension.
  • This scheme doesn’t require a medical test, allows premature exit under special circumstances with a 9% return on the purchase price, and permits a loan after 3 years, up to 75% of the purchase price.

UP Rojgar Mela

Features Of Pradhanmantri Vaya Vandana Yojana

  • Pradhan Mantri Vaya Vandana Yojana is designed for senior citizens aged 60 and above, ensuring a guaranteed pension for 10 years.
  • Operated by the Life Insurance Corporation of India, it offers an attractive interest rate of 7.40% per annum.
  • The scheme is available for purchase both online and offline, and its duration has been extended until 2024.
  • Pension payments can be received monthly, quarterly, half-yearly, or annually.
  • After 10 years, the purchase price and the final pension amount are refunded.
  • Beneficiaries can avail a loan up to 75% of the purchase price after 3 years, and emergency withdrawals of up to 98% are permitted.
  • In case of the beneficiary’s demise within the 10-year period, the purchase price is returned to the nominee.

Key facts of PMVVY Yojana 2024

Under the PMVVY Scheme 2024:

  • Eligibility: Senior citizens aged 60 years or more can apply, with no fixed maximum age limit.
  • Policy Term: The policy term is 10 years.
  • Minimum Pension: Rs 1,000 monthly, Rs 3,000 quarterly, Rs 6,000 half-yearly, and Rs 12,000 annually.
  • Maximum Pension: Rs 30,000 quarterly, Rs 60,000 half-yearly, and Rs 1,20,000 annually.
  • Investment Limit: Senior citizens can invest a maximum of Rs 15 lakh.
  • Objective: PMVVY provides income security for senior citizens.
  • GST Exemption: No GST is applicable under this scheme.

प्रधानमंत्री ग्रामीण डिजिटल

PM Vaya Vandana Yojana Key Points

Age 60 years (completed)
Policy Term 10 years
Pension Mode Monthly, Quarterly, Half Yearly, Annually (in Rs)
Purchase Price – Rs 1,50,000 (monthly)
– Rs 1,49,068 (quarterly)
– Rs 1,47,601 (half yearly)
– Rs 1,44,578 (annually)
– Rs 15,00,000 (monthly)
– Rs 14,90,683 (quarterly)
– Rs 14,76,015 (half yearly)
– Rs 14,45,783 (annually)
Pension Amount – Rs 1,000 (monthly)
– Rs 3,000 (quarterly)
– Rs 6,000 (half yearly)
– Rs 12,000 (annually)
– Rs 10,000 (monthly)
– Rs 30,000 (quarterly)
– Rs 60,000 (half yearly)
– Rs 1,20,000 (annually)

Eligibility for Pradhanmantri Vaya Vandana Yojana

To be eligible for this scheme:

  • You must be a permanent resident of India.
  • The minimum age requirement is 60 years.
  • There is no maximum age limit for this scheme.
  • The policy term for this scheme is 10 years.

YSR Vahana Mitra

Required Documents

  • Aadhar card
  • PAN card
  • proof of age
  • proof of income
  • Proof of residence
  • bank account passbook
  • mobile number
  • passport size photo

How to Apply for PM Vaya Vandana Yojana 2024?

To apply for Pradhan Mantri Vaya Vandana Yojana, follow these simple steps:

  • Visit the official LIC website https://licindia.in/.
  • Click on the “Registration” option on the homepage.
  • Fill in the application form with details like name, address, Aadhaar number, etc.
  • Upload all the required documents.
  • Click the “Submit” button to complete your online registration.

By following these steps, you can easily apply for the scheme and avail its benefits either online or offline.

राजीव गांधी करियर पोर्टल


In conclusion, Pradhan Mantri Vaya Vandana Yojana 2024 (PMVVY) stands as a promising scheme, offering competitive interest rates and maturity benefits. With its attractive features and easy application process, it provides a secure avenue for senior citizens to invest and secure their financial future. The scheme’s focus on meeting the needs of the elderly, coupled with simplified application procedures, reflects the government’s commitment to ensuring the welfare of the older population. PMVVY remains a valuable initiative, combining financial prudence with accessibility.


What is Pradhan Mantri Vaya Vandana Yojana (PMVVY)?

PMVVY is a pension scheme designed for senior citizens, offering attractive interest rates and maturity benefits.

What are the interest rates under PMVVY?

Senior citizens opting for monthly pension receive an 8% interest rate, while those choosing the annual pension option get 8.3% for a 10-year period.

What is the maturity benefit of PMVVY?

The scheme provides a return of the entire purchase price along with the final pension installment after the completion of the 10-year term.

How can one apply for PMVVY?

Detailed information on the application process can be found on the official website or through authorized agents. The application process is designed to be user-friendly.

When was PMVVY launched?

Pradhan Mantri Vaya Vandana Yojana was launched on May 4, 2017, by the Government of India.

Pariksha Pe Charcha Certificate

MP मुख्यमंत्री स्वरोजगार योजना

Rajasthan Free Mobile Yojana

Leave a Comment