Mahila Samman Saving Certificate Scheme: All You Need To Know

Producer: Priyanka Das Editor: Manuj Yadav

Mahila Samman Saving Certificate is a one-time new small savings scheme of the government of India announced in the Union Budget 2023.

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The MSSC is a low-risk investment option with attractive returns specifically designed for women.

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Eligibility: Any resident Indian woman, regardless of age, is eligible. An account can be established for a minor girl by her natural or legal guardian.

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Type of Account: Only individual accounts are permitted. An account opened for a minor girl will be managed by the natural or legal guardian until she reaches adulthood.

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The minimum deposit is Rs. 1000/- and the maximum is Rs. 200,000/-.

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There is no limit on the number of accounts per depositor, as long as the total amount across all accounts under this scheme does not exceed Rs 200,000/-.

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The scheme offers an annual interest rate of 7.5%. Interest will be compounded quarterly and deposited into the account. Eligible interest will be disbursed upon closure, pre-closure, or partial withdrawal of the account.

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The Mahila Samman Saving Certificate Scheme has been rolled out through banks and post offices across the country.

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