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The Nirvritti Vetan Yojana offers a reliable source of retirement income. Members can eventually establish a fund that will give an ongoing source of income, guaranteeing financial security and consistency in their retirement years.
This plan is designed for people who want to plan for the future and have financial security after their productive working years.
| No. | Deposit Amount Yearly | Pay Out After 7th Year | Surrender Benefit Yearly |
|---|---|---|---|
| 1 | 12,000 | - | - |
| 2 | 12,000 | - | - |
| 3 | 12,000 | - | - |
| 4 | 12,000 | - | - |
| 5 | 12,000 | - | - |
| 6 | 12,000 | - | - |
| 7 | 12,000 | - | - |
| 8 | - | 12,000 | 1,00,000 |
| 9 | - | 12,000 | 1,00,000 |
| 10 | - | 12,000 | 1,00,000 |
| 11 | - | 12,000 | 1,00,000 |
| 12 | - | 12,000 | 1,00,000 |
| 13 | - | 12,000 | 1,00,000 |
| 14 | - | 12,000 | 1,00,000 |
| 15 | - | 12,000 | 1,00,000 |
| 16 | - | 12,000 | 1,00,000 |
| 17 | - | 12,000 | 1,00,000 |
| 18 | - | 12,000 | 1,00,000 |
| 19 | - | 12,000 | 1,00,000 |
| 20 | - | 12,000 | 1,00,000 |
| 21 | - | 12,000 | 1,00,000 |
With deposits spread across 84 months (7 years), the Nirvritti Vetan Yojana (NVY) is a systematic retirement savings plan that requires a minimum monthly deposit of Rs. 1000. Regular distributions will be made to members starting in the eighth year and continuing for the next fourteen, guaranteeing a consistent income after retirement. Early withdrawals are not allowed, and accounts that are closed will be refunded with interest on savings accounts applied at the end of the seven-year payment period. The frequency of payment installments is determined by the depositor, and deposit installments can be paid monthly, quarterly, half-yearly, or annually. Members must finish the KYC process, which includes presenting their photo ID, Aadhaar card, proof of age, and other necessary paperwork, to join NVY. Deductions can also be made to returns in certain cases of early account closure. This disciplined savings strategy provides a structured approach for members to plan for a comfortable retirement.
NVY requires a minimum monthly deposit of Rs. 1000/-
NVY deposit spread across 84 months (7 Years)
Members must finish the KYC process, which includes presenting their photo ID, Aadhaar card, proof of age, and other necessary paperwork, to join NVY.
Basic documents required for opening a Nirvritti Vetan Yojana
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