Mahila samman saving scheme post office

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Mahila samman saving scheme post office  2023 (MSSC)

Mahila Samman Saving Certificate is new scheme launch by Modi government specifically targeting for Women and girls  for small saving. It was launch by Union Finance Minister, Smt. Nirmala Sitharaman  in her 2023-24 Budget speech.

The Mahila Samman Savings Certificate scheme was announced to commemorate the Azadi ka Amrit Mahotsav. 





The Mahila Samman Savings Certificate is a one-time scheme available for two years, from April 2023-March 2025. This scheme is having heights return in short term 2 year only no other such scheme available in market or in post office itself. It will offer a maximum deposit facility of up to Rs.2 lakh in the name of women or girls for two years at a fixed interest rate. 

Features of Mahila Samman Savings Certificate as below


Feature of this MSSC scheme –

1.       Scheme backed by the government. Hence, it does not have any credit risk. 

2.       The Mahila Samman Savings Certificate can be done only in the name of a girl child or woman.

3.       The minimum deposit amount under the Mahila Samman Savings Certificate is Rs.1,000 in multiples of rupees one hundred. The maximum deposit amount is Rs.2 lakh in one account or all Mahila Samman Savings Certificate accounts held by an account holder




4.       The maturity period of the Mahila Samman Savings Certificate account is two years. 

5.       A partial withdrawal facility is provided under the Mahila Samman Saving Certificate scheme. The account holder can withdraw up to 40% of the account balance after one year from the account opening date.

6.       TDS will apply only when the interest received from the post office savings scheme in a financial year is more than Rs.40,000 or Rs.50,000.

7.       This scheme has a fixed interest rate of 7.5% p.a., much higher than most bank Fixed Deposits (FDs) and other popular small savings schemes.

8.       No tax deduction under Section 80C ( Till date there is no provision as such )

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Where to Open a Mahila Samman Savings Certificate?

Its available in nearest post office in your area.




Documents Required for Mahila Samman Savings Certificate Account

Application form

KYC documents, such as an Aadhaar card, Voter ID, driving license and PAN card 

KYC form for new account holders 

Pay-in-Slip 

 Mahila Samman Savings Certificate calculation example-

 



Other option scheme available at post office 



Refer below link for more investment options -

Location: India

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