The Live Nagpur
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary

The Live Nagpur


  • Home
  • City
  • Politics
  • Business
  • Education
  • Entertainment
  • Sports
  • Health
  • Crime
  • Forest
  • Featured
  • Vidarbha
Business

Chase your Passion not your Pension

by TLN Team March 13, 2020March 13, 2020
written by TLN Team March 13, 2020March 13, 2020
Chase your Passion not your Pension

SBI has rationalized interest rate on all savings bank accounts to a flat 3%, It has also cut the interest rates on fixed deposits for the second time in a month to 5.9% for 5 years and up to 10 years and 6.4% for 5 years and up to 10 years for senior citizens. In such a falling interest rate scenario it is advisable to lock in a scheme which gives a higher rate of return for the long term. I truly advocate that one should Chase one’s Passion and not Pension.

There is one good option available up to 31 st March 2020 for senior citizens – Pradhan Mantri Vaya Vandana Yojana. Pradhan Mantri Vaya Vandana Yojana is a government-backed Pension plan for Senior citizens announced by the Government of India which aims to provide regular pension to senior citizens.

The scheme will avail guaranteed 8% return in monthly mode and 8.3% return in yearly mode. The plan can be purchased from the Life Insurance Corporation of India (LIC).

Advantages of PMVVY are:

  • The minimum age of entry in PMVVY is 60 years. The term of the scheme is 10 yrs.
  • The loan facility is available after completion of 3 policy years.
  • Like other pension schemes, you don’t need to collect the pension amount. The pension would be transferred to the pensioners’ bank account through NEFT or AEPS (Aadhar Enabled Payment System).
  • On survival of the PMVVY policyholder to the end of the policy term of 10 years, Purchase price along with final pension installment shall be returned on maturity.

For example, if someone invests Rs.15 lakhs today, he will get an immediate pension of Rs.10000 per month for the next 10yrs and after that, he will get a refund of Rs.15 lakhs that he has invested.

Don’t miss this Golden opportunity as the scheme is closing on 31 st March 2020. For details please feel free to contact us.

0 comment
FacebookTwitterLinkedin
TLN Team

previous post
Rajesh Mohite,new civic chief of Chandrapur
next post
Growing scare of Coronavirus:City ‘running out’of sanitizers

You may also like

Action taken against 31 businessmen  for selling products...

May 17, 2022

Rupee hits all-time low against Dollar

May 17, 2022

NARENDRA MODI’S GOVERNMENT WILL ADDRESS ALL GST ISSUES...

May 15, 2022

Udyamita Yatra to reach city on May 24

May 13, 2022

Swiggy shuts down Supr Daily, suspend Swiggy Genie

May 11, 2022

VIA LEW conducted seminar on “Role of Technology...

May 11, 2022

Rupee touches all-time low of Rs 77.42 against...

May 10, 2022

Coal India is the third largest corporate spender...

May 8, 2022

Parag Agrawal’s wife linked with Musk’s $44 bn...

May 8, 2022

Valediction Ceremony of the 74th Batch of Indian...

April 28, 2022

Trending News

  • Mini MBA course in just one rupee, know how

    May 17, 2022
  • Know how to block spam calls on iPhone

    May 16, 2022
  • India reeling under 50°Celsius is a matter of concern

    May 16, 2022
  • Rohit Sharma, K L Rahul to be rested for T20 series

    May 15, 2022
  • Australian Cricket Star Andrew Symonds Dies In Car Crash

    May 15, 2022

Important Links

  • Politics
  • Crime
  • Business
  • Education
  • Entertainment
  • Sports

Available on Playstore & Coming Soon on Appstore

Search

March 2020
M T W T F S S
« Feb   Apr »
 1
2345678
9101112131415
16171819202122
23242526272829
3031  

Sign-Up Form

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Footer Logo
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary
  • Privacy Policy
  • Disclaimer
  • Cookie Policy
  • Terms Of Use
  • Advertise with Us
  • Work with us
  • Contact Us

© 2020 - The Live Nagpur . All Rights Reserved.