Over the years the central government has rolled out various savings schemes catering to different groups across the country. One of the standout initiatives is aimed specifically at women, allowing them to earn significant interest through their investments. If you’re married, you can definitely benefit from this program. We’re talking about the Mahila Samman Savings Certificate (MSSC), which was launched by PM Narendra Modi’s government in 2023. This scheme is exclusive to women’s accounts.
You can start with a minimum deposit of Rs 1,000 and go up to Rs 2 lakh
The MSSC offers an attractive interest rate of 7.5 percent. You can invest anywhere from Rs 1,000 to a maximum of Rs 2 lakh, and the scheme matures in 2 years. After one year, you can withdraw up to 40 percent of the eligible balance. You can open a Mahila Samman Savings Certificate account in your wife’s name at any bank or post office.
Invest Rs 2 lakh and earn guaranteed interest of Rs 32,000
With the Mahila Samman Savings Certificate Scheme, the maximum deposit is capped at Rs 2 lakh. If you invest the full amount, you’ll still earn 7.5 percent interest. By the time the scheme matures, your wife will receive a total of Rs 2,32,044.00, which means she’ll earn Rs 32,044 in interest on that Rs 2 lakh deposit.
An account can be set up in the name of either your daughter or your mother.
If you’re not married yet, you have the option to invest in the Mahila Samman Savings Certificate Scheme under your mother’s name. Additionally, if you have a daughter, you can also make an investment in her name.
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