After reaping the benefits of the Pradhan Mantri Kisan Samman Nidhi scheme, farmers can also benefit from the PM Kisan Man Dhan Yojana under which they can get Rs 36,000 a year in 12 monthly instalments of Rs 3,000 per month once they retire.
Any farmer who is registered under the Pradhan Mantri Kisan Samman Nidhi Yojana can benefit from the Kisan Man Dhan Yojana. This scheme will provide a financial cushion in the form of a monthly pension to farmers above 60 years of age registered under the Pradhan Mantri Kisan Samman Nidhi Scheme.
How to enrol in the PM Kisan Man Dhan Yojana?
A farmer who is registered under the Pradhan Mantri Kisan Samman Nidhi Yojana can enrol for the Kisan Man Dhan Yojana.
The farmer should have less than two hectares of cultivable land.
There is no need for the farmer to undergo additional documentation to apply under the PM Kisan Man Dhan Yojana.
A farmer needs to start investing in the scheme for at least 20 years before reaping the benefits.
A farmer can start investing in the scheme as early as he is 18 years old for securing retirement. Farmers who are 18 years old have to contribute Rs 55 every month, those above 30 years old, have to contribute Rs 110 per month, while those farmers above 40 years of age will have to invest Rs 200 every month to get the benefits after retirement.