Senior Citizen Investment plans

Senior Citizen Investment plans require a flow of funds at regular intervals. Returns from an investment should not be blocked as there would be only income after retirement. The main intention of Investment is to get a monthly pension. Whenever Senior Citizen Investment plans mature or any requirement comes, Investment companies should be in a position to return the money without any delay. Senior Citizens may not be able to travel or wait for getting the monthly interest or Pension payable. They should invest in Trustworthy, popular and Government guaranteed companies only so that their investments are fully secured.

Senior Citizens should never look for exorbitant returns and lose their investment. They should consider each and every aspect before investment. LIC of India regularly brings Investment plans for Senior citizens with monthly returns. Every year considering the increase in a retirement group, LIC of India introduces Monthly Pension plans for Senior Citizens.

The Government of India had introduced PRIME MINISTER VAYA VANDANA YOJANA  in the 2017 budget which was there till March 2020. Recently on May 26th 2020, Government modified the interest payable in the  “https://www.financialexpress.com/money/pmvvy-modified-scheme-2020-pension-rates-how-to-apply-invest-register-buy-online/1972001/” PRIME MINISTER VAYA VANDANA YOJANA plan to 7.6% from the old 8.00% per annum for 10 years.  This particular plan is only for the age 60 and above. This is one of the best Senior Citizen Investment Plans in the country. At the time bank interest rates are coming down drastically and Senior citizen Bank Fixed Deposits are near 8% only, LIC of India under Prime Minister Vaya Vandana Yojana offers a guaranteed yearly interest rate at 8.30% for the next 10 years.