Sir
Presently P M scheme for sr citizens offers 8% fixed, taxable returns, and a lock in pd of 10 yrs. Upper limit of investment is 7.5 L.
RBI bonds also offer 8% assured taxable returns, lock in of 6 yrs and NO upper limit for investment.
Any major difference/ risk in the two??
Pl advise.
ANAND
2 Answers
Dear Anand ji,
Are you referring to 'PM Vaya Vandana Yojana'?
Both are safe investment choices with guaranteed returns.
But, Ceiling of maximum pension is for a family as a whole i.e. total amount of pension under all the PMVVY policies issued to a family under this plan shall not exceed the maximum pension limit. The family for this purpose will comprise of pensioner, his/her spouse and dependents.
There is no such ceiling with respect to 8% GoI bonds.
Loan (up to 75% of purchase price) can be taken on PMVVY.
8% GoI bonds come with cumulative or non-cumulative option.
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