Senior citizen are confused in choosing right saving plan given PMVVY/SCSS/GOI bond giving almost similar return. Let’s decode each of these to help you in choosing right saving plan.
| PMVVY | SCSS | GOI | |
| Yearly returns | 7.66% | 7.4% | 7.75% |
| Total term | 10 years | 5 years | 7 years |
| Rate Fixed or Revised | Fixed | Revised | Fixed |
| NRI/HUF | Not allowed/HUF allowed | Not-allowed | Not allowed/HUF allowed |
| Minimum investment | 1,56.656 | 1000 | Rs.1000 |
| Maximum investment | Rs.15,00,000 | Rs.15,00,000 | No limit. |
| Channels | LIC only | Post-office/Bank | Banks only |
| Options for receiving Interest | Monthly/quarterly/half-yearly/yearly. | Quarterly basis | Half-yearly basis. |
| Loan | Yes | Yes | No |
| TDS | No | Deductible | Deductible |
| Form | Physical form | Physical form | Demat only. |
| Yearly Charges | None | None | Demat charges |
Advantage of Pradhan Mantri Vaya Vandana Yojana:
GOI is offering bit higher return than PMVVY but one needs to open demat account and pay demat account and yearly maintenance charges. PMVVY offers higher return for 3 extra years in comparison to GOI scheme.
Ask an experienced financial planner chennai for guidance in determining how to manage your funds – and for exploring your options to generate reliable income. They can help you build a rock-solid strategy that lets you enjoy a predictable lifestyle for the long haul.
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