The Narendra Modi government launched a new savings scheme in 2023, specifically for women. This scheme is called the Mahila Samman Savings Certificate Scheme (MSSC), and it is run by the central government. Under this scheme, women can earn a bumper interest rate of 7.5 percent by opening an account in their name. A minimum of Rs 1,000 and a maximum of Rs 2 lakh can be deposited in the Mahila Samman Savings Certificate Scheme. The scheme matures in 2 years.
Fixed and Guaranteed Returns After 2 Years
The Mahila Samman Savings Certificate Scheme can be opened at any bank or post office. Any woman can open this scheme in her name. If you are a man, you can also open an account in your wife’s name under this scheme. Compared to all other 2-year savings schemes, this scheme offers the highest interest for women. Everyone should take full advantage of this government scheme.
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Central government has made this special “Mahila Samman Savings Certificate” scheme for women which gives benefits up to Rs 1 lakh each to women.
This is in addition to thousands of other freebies and schemes for women which are already there.
“According to Mahila Samman… pic.twitter.com/2jqhinrwMo
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(@thepurusharth) November 6, 2023
For example, if you deposit Rs 2 lakh in the scheme in your wife’s name, after 2 years (on maturity), your wife will receive a total of Rs 2,32,044. This means that on an investment of Rs 2 lakh, you will get a fixed and guaranteed interest of Rs 32,044.
Partial Withdrawal After 1 Year
Under the Mahila Samman Savings Certificate Scheme, you can make a partial withdrawal after 1 year from the date of opening the account. If you need money, you can withdraw up to 40 percent of the eligible balance after 1 year of opening the account.
The special feature of this scheme is that you can open an account not only in your wife’s name but also in the name of your mother, daughter, or sister.
How to Apply for the Mahila Samman Savings Certificate Scheme:
- Visit a Bank/Post Office: Go to any authorized bank or post office offering the scheme.
- Provide Documents: Submit ID proof, address proof, and photos. Proof of relationship is needed if opening in someone else’s name.
- Fill Out the Application: Complete the application form provided by the bank or post office.
- Deposit Amount: Deposit between Rs 1,000 and Rs 2 lakh as desired.
- Account Opening: The account will be opened, and you will receive a certificate for the deposit made.