The two most well-liked government-backed initiatives for elderly adults during the prevailing interest rate regime are the Senior Citizen Savings Scheme and Pradhan Mantri Vaya Vandana Yojana. The Finance Minister Nirmala said on February 1, 2023, during the presentation of the Union Budget, that the Senior Citizens Savings Scheme's maximum deposit limit will increase from Rs. Nirmala Sitharaman, has increased …
We all have heard our parents and grandparents talk about investing and saving money for retirement. Now, there are two major government schemes that are specifically designed to provide old age benefits and can be used for retirement planning- Senior Citizen Saving Scheme and Pradhan Mantri Vaya Vandana Yojana. Pradhan Mantri Vaya Vandana Yojana The Pradhan Mantri Vaya Vandana Yojana …
I am 70-year-old and have got long term capital gain money of ₹15 lacs by selling 30-year-old residential property. Alternatively, I can invest 15 Lacs in Pradhan Mantri Vaya Vandana Yojana with a higher interest rate but I will have to pay upfront 20 percent tax now on a long term gain of 15 Lacs. Your investment in Capital Gain …
PMVVY vs SCSS: Amid lowering fixed deposit interest rates at leading Indian banks, senior citizens are busy finding out better risk-free investment option. Speaking on Senior Citizen Saving Scheme vs PMVVY Kartik Jhaveri, Director — Wealth Management at Transcend Consultants said, "Both SCSS and PMVVY yields 7.4 per cent annual interest rate. Since, there are speculations that Government of India …
Coronavirus has taken a huge toll on economy, impacting our lives in more ways that one. Amid this falling interest rates, here are two attractive investment options for those who are 60 or above— Senior Citizens Savings Scheme and LIC Pradhan Mantri Vaya Vandana Yojana. Senior Citizens Savings Scheme Touted as one of the simplest investment options, this unique scheme …
