If you’re on the hunt for a secure and profitable investment option in your wife’s name, the Mahila Samman Savings Certificate (MSSC) scheme could be just what you need. This initiative is designed to boost women’s financial empowerment. By putting your money into this scheme, you can enjoy safe and appealing returns. Let’s dive into the perks of this scheme and some key details.
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What’s the MSSC Scheme?
The Mahila Samman Savings Certificate (MSSC) is a government-backed small savings program specifically for women. You can invest in this scheme under your wife’s name, and it offers safe returns with a fixed interest rate. It’s all about promoting financial independence for women.
Investment Limits and Interest Rate
You can invest anywhere from a minimum of Rs 1,000 up to Rs 2 lakh in this scheme. The government provides an attractive interest rate of 7.5% per year, which is better than many other small savings options.
The duration of this plan is 2 years.
Benefits of Investing in Your Wife’s Name
Great Returns: With a 7.5% interest rate, you can expect solid profits after 2 years.
Tax Advantages: Investing in your wife’s name can help you save on taxes under the Income Tax Act.
Safe Investment: Since this is a government-supported scheme, your money is completely secure.
Empowering Women: This initiative plays a role in helping women achieve financial independence.
If you put Rs 2 lakh into the MSSC scheme under your wife’s name, you can expect to earn around Rs 32,000 in interest over two years, assuming an annual interest rate of 7.5%. So, in total, you’ll end up with Rs 2,32,000.
Desclaimer: For any financial invest anywhere on your own responsibility, Times Bull will not be responsible for it.