Pradhan Mantri Vaya Vandana Yojana, Eligibility, Form PDF, Apply Online

By | November 25, 2022

If you want to get complete information about Pradhan Mantri Vaya Vandana Yojana then you have come to the right place. Because in our article you will be provided clear information about eligibility criteria and features etc. So we hope that you will definitely read our article carefully till the end. Not only this, in our article you will be provided step-wise information about the application process.

Pradhan Mantri Vaya Vandana Yojana

This scheme has been launched by the Life Insurance Corporation of India. Which can be used only by citizens of India. All the information about this scheme will be made available to you on this portal.

Under this scheme, you will be given a monthly minimum pension of 1000 rupees. Motley pension will be given to you up to a maximum of Rs 9250. You can easily invest in this scheme and get a pension after 60 years of age.

Benefits of Pradhan Mantri Vaya Vandana Yojana

  • This plan is a kind of investment plan.
  • This scheme is not a tax-saving scheme.
  • After March 31, 2023, people of 60 years can invest up to Rs 1500000 in this scheme.
  • In this scheme, you will be given a monthly pension from Rs 1000 to Rs 9250.
  • GST exemption will be given in this scheme.
  • Citizens who invest in this scheme will not be eligible for deduction under 80C Income Tax Act.
  • 18% GST is levied on any insurance but this GST will not be levied in this scheme.

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Key Facts of Pradhan Mantri Vaya Vandana Yojana

  • The policy term in this plan is up to 10 years.
  • Old age income security will be provided to the senior citizens of the country through this scheme.
  • Senior citizens can invest up to a maximum of Rs 15 lakh in this scheme.
  • You will not need to pay GST in this plan.
  • You must be 60 years old for PMVVY.
  • No maximum age limit has been fixed in this scheme.

Features of Pradhan Mantri Vaya Vandana Yojana

  • Under this scheme, you will be provided a guaranteed pension for 10 years.
  • This scheme has been specially started for the people of 60 years.
  • This scheme is being organized by the Life Insurance Corporation [LIC] of India.
  • You can purchase this plan in offline and online mode.
  • In this plan, you can earn per annum interest income at a 7.40% rate.
  • Under this scheme, you can get a Monthly, Quarterly, Half Yearly, and Annually pension.
  • This scheme was closed on 31 March 2020 but now this date has been extended till March 2023.
  • You can also take a loan in this policy up to 75% of the purchase price.
  • Emergency Withdrawal will also be given in the plan of this plan at 98% of the purchase price.

Eligibility Criteria for Pradhan Mantri Vaya Vandana Yojana

  • You must be at least 60 years of age to apply.
  • Only citizens of India can apply for this.
  • No upper age limit has been fixed in this scheme.

Documents Needed for Pradhan Mantri Vaya Vandana Yojana

  • PAN card
  • Aadhar card
  • Birth certificate
  • Residence proof
  • Bank passbook
  • Income certificate
  • Passport size photo
  • Mobile number, etc.

How to apply for Pradhan Mantri Vaya Vandana Yojana?

  1. To apply you have to visit the official website.
    Whose link is – www.licindia.in
  2. On the home page of the website, you have to click on the option of ‘Registration’.
  3. After clicking, the application form will open.
  4. In which you have to fill in the details like your name, aadhaar number, address, etc.
  5. Along with filling in the details, you will also have to upload the documents.
  6. Finally, you have to click on submit.
  7. After which your application will be completed.

How to get policy loan details in Pradhan Mantri Vaya Vandana Yojana?

  1. For this, you have to click on the link to the official website.
  2. Then on the home page, you have to click on ‘Policy Loan Details’.
  3. After which a new page will open in front of you.
  4. In which you have to choose Login with MPIN or Login with OTP.
  5. After which you have to fill in your mobile number and end details and click on login.
  6. All your details will be displayed on your screen.

What is the process to get policy details?

  1. First of all, you have to go to the online portal.
  2. Then on the home page, you have to click on ‘Policy Basic Details’.
  3. On the next page, you have to log in by filling in your details.
  4. After login, all your details will be displayed on your display screen.

How to download pension payment details?

  1. First of all, you have to go to the official website.
  2. On the home page, you have to click on ‘Pension Payment Details’.
  3. Then you have to select Open.
  4. After which you have to log in to the portal.
  5. After login, a new page will open.
  6. Now you can easily download.

How to get policy payment details in Pradhan Mantri Vaya Vandana Yojana?

  1. For payment details, you have to click on the link on the official website.
  2. After which you have to click on ‘Policy Payment Details’ on the home page of the website.
  3. On the next page, you have to log in.
  4. After login, all the login details will open in front of you.

What’s the process to view the purchase policy?

  1. For this, you have to visit the website of PMVVY.
  2. On the home page, you have to go to ‘Purchase Policy’.
  3. In which you have to click on Open.
  4. After clicking, you will have to fill in your login details.
  5. After login, you can easily view your purchase policy.

How to give Feedback in Pradhan Mantri Vaya Vandana Yojana?

  1. To give feedback, you have to visit the official website.
  2. On the home page, you have to click on ‘Feedback’.
  3. After clicking, the next page will open in front of you.
  4. In which you have to type your feedback and select your group in the form.
  5. After that, you have to fill in all the details asked in the form.
  6. Don’t forget to click on submit after filling in the details.
  7. This way you can easily give feedback.

If you want to ask anything about Pradhan Mantri Vaya Vandana Yojana, then you can feel free to ask us by messaging in the comment section. We will try to reply to you as soon as possible.

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