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    Question

    Under the Pradhan M antri Vaya Vandana Yojana (PMVVY),

    after 3 years, loan facility can be availed up to what percentage of the invested amount?
    A 50% Correct Answer Incorrect Answer
    B 60% Correct Answer Incorrect Answer
    C 65% Correct Answer Incorrect Answer
    D 75% Correct Answer Incorrect Answer
    E 90% Correct Answer Incorrect Answer

    Solution

    Pradhan Mantri Vaya Vandana Yojana (PMVVY)    

    • PMVVY is for senior citizens aged 60 years and above to provide them an assured return of 7.4 per cent per annum.   
    • The scheme offers pension income payable monthly, quarterly, half-yearly or yearly as opted. The minimum pension amount is Rs 1,000 per month and maximum Rs 9,250 per month.   
    • The maximum amount that can be invested in the scheme Rs 15 lakh.   
    • The tenure of the scheme is 10 years. The scheme is available till March 31, 2023.   
    • At maturity, the investment amount is repaid to the senior citizen. In the event of death of senior citizen, the money will be paid to the nominee.   
    • After 3 years Loan facility can be availed upto 75% of the invested amount  

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