Mahila samman saving scheme post office 2023 (MSSC)~

Note -This scheme is no longer available from 31st March 2025 (you can check for alternative Scheme available in post office)

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 )