FD vs. Mahila Samman Savings Certificate: Where should you invest in? 

FD vs. Mahila Samman Savings Certificate: Everyone wants to secure the future. To secure the future, people have done so many things. Some people deposit money in the bank, and some do FD. Today’s article will discuss whether you should have an FD in a bank or invest in a women’s honor certificate scheme. Today’s article is all about FD vs. Mahila Samman Savings Certificate.

Mahila Samman Savings Certificate

Punjab National Bank and Bank of Baroda have recently hiked fixed deposit interest rates. In such a situation, if you are planning to get FD in these banks or any other bank, then before that, you should also know about the ‘Mahila Samman Savings Certificate.’ This is a special scheme for women. It is being given 7.5% annual interest. It can be invested from a minimum of Rs 1000 to a maximum of Rs 2 lakh. It has to be invested for 2 years. With this, you will know where it will be more beneficial to invest money.

You will be surprised to know that in this scheme, in special circumstances, this account can be closed before 2 years, but only after 6 months. However, this will get only 5.5% interest instead of 7.5%. This interest will be paid on the principal amount. Apart from this, you can withdraw 40% of the amount after 1 year.

Under this scheme, women can open an account for themselves. Apart from this, maternal parents (guardians) can also invest in this welfare scheme in the name of their daughter (minor). That is, it can also be invested in the name of a minor girl.

Mahila Samman Savings Scheme Launched in 2023

In 2023, the central government launched a special investment scheme for women known as the Mahila Samman Savings Certificate. This is a short-term savings scheme under which any woman can invest. Under this scheme, customers get an annual interest rate of 7.50%. Let’s know in detail about this scheme.

The maturity period of the Mahila Samman Savings Certificate Scheme is 2 years. Under this scheme, any woman can invest a minimum amount of Rs 1,000 to a maximum of Rs 2 lakh. Explain that under this scheme, women of any age can open an account. However, a girl child below 18 years of age can open an account under this scheme under the supervision of parents.