Mahila Samman Savings Certificate: Time is running out for women to invest in the Mahila Samman Savings Certificate (MSSC) scheme, which is managed by the post office. The final date for investment in this scheme is 31 March 2025. If you have not yet made an investment, it is advisable to act quickly, as the government has not indicated any plans for an extension. The Government of India introduced the Mahila Samman Savings Certificate (MSSC) Scheme on 31 March 2023, as part of the Azadi Ka Amrit Mahotsav initiative, specifically designed for women and girl children. This scheme is set to last for two years and aims to enhance the financial empowerment of women. Should the government choose not to extend the scheme, it may conclude as scheduled. This investment option is particularly attractive for women due to its high interest rate and safety.
Key Advantages of Investing in the MSSC Scheme
1. Interest Rate: The MSSC scheme provides an annual interest rate of 7.5%, surpassing that of typical 2-year fixed deposits offered by banks.
2. Safe Investment: Being a government-backed scheme, it guarantees complete safety.
3. Flexible Withdrawal: Investors can withdraw up to 40% of their investment after one year.
4. Small Investment Amount: Investments can range from Rs 1,000 to Rs 2 lakh.
5. Simple Account Opening: Accounts can be easily established at post offices or any registered bank.
Additionally, the MSSC scheme includes specific terms and benefits:
A. Account holders may close their accounts prematurely in cases of severe illness or death.
B. If the account is closed after six months, the interest rate may be subject to reduction.
C. The government has not yet confirmed any extension of the scheme beyond 31 March 2025.