Pradhan Mantri Vaya Vandana Yojana completes Five Years

10POINTER- The five years of the Pradhan Mantri Vaya Vandana Yojana are now complete.
About Pradhan Mantri Vaya Vandana Yojana
Pradhan Mantri Vaya Vandana Yojana (PMVVY) was launched as a government pension scheme for senior citizens which is managed and operated by Life Insurance Corporation (LIC).
The scheme is exempted from GST.
The scheme provides an assured return of 8% p.a. payable monthly and is exempted from service tax/GST.
The scheme offers loans up to 75% of the purchase price after 3 policy years.
The scheme also allows for premature exit for the treatment of any critical/ terminal illness of self or spouse.
On such a premature exit, 98% of the Purchase Price shall be refunded.