Big news for investors. The Department of Posts has upgraded the Mahila Samman Savings Scheme (MSSC) by adding a feature that allows account holders to withdraw up to 40% of their savings, making it more flexible. This new option is now part of the Finacle System utilized by India Post employees.
With this enhancement, accessing funds becomes easier, boosting both convenience and financial security. The Mahila Samman Savings Scheme now permits account holders to take out a portion of their savings before the maturity date. This feature has been operational on India Post’s Finacle system since March 7, ensuring automatic interest calculations for smooth transactions.
Mahila Samman Savings Scheme: Important Dates
The Ministry of Communications, Department of Posts (Financial Services Division) issued the relevant order on March 17, 2025. The deadline for investing in the Mahila Samman Savings Scheme is March 31, 2025. The scheme has been available for investments since April 1, 2023. For instance, a woman who invested on April 30, 2023, can start making partial withdrawals from May 1, 2024.
Mahila Samman Savings Certificate
This scheme was launched as a high-yield investment option for women, offering an interest rate of 7.5% per annum with a two-year lock-in period. The Mahila Samman Savings Certificate was introduced on April 1, 2023, and will remain valid until March 31, 2025.
Eligibility and Minimum Deposit
This scheme is specifically for women aged 18 and older. Investments can be made through post offices and select banks. The minimum deposit required is Rs 1,000, while the maximum limit is Rs 2 lakh. Since the investment process is offline, applicants need to visit designated financial institutions to complete the necessary procedures.