Mahila Samman Savings Certificate (MSSC)
The Government of India has introduced new small
savings schemes as per announced by Smt. Nirmala Sitharaman of Union Finance Minister, a new small savings scheme for women and
girls, in her Budget Speech FY 2023-24. The Mahila Samman Savings Certificate
scheme was announced to commemorate the Azadi
ka Amrit Mahotsav. , which are investment tools for people. The
new popular savings scheme is Mahila Samman Savings Certificate (MSSC).
Tenure
This scheme is a
one-time scheme with tenure of two years. This scheme will be available for two
years, i.e. from Apil,2023 to March,2025.
Premature
Withdrawal
A partial withdrawal
facility is provided under the Mahila Samman Saving Certificate scheme.
Mahila
Samman Savings Certificate Calculation
The benefit of doing a Mahila Samman Savings Certificate (MSSC). The
Amount of invest Rs.2, 00,000 (Two Lakh
Only) under the above scheme for two
years tenure; you get an interest fixed at 7.5%
yearly. Thus, in the first year, you will get Rs.15, 000.00 on the principal amount, and in the second year, you
will get Rs.16, 125.00. Thus, by the
end of two years, you will get Rs.2, 31,125.00 (i.e.Rs.2,00,000 initial
investment + Rs.31,125 interest for two years).
The
details as under: -
|
Particulars |
Mahila
Samman Savings Certificate |
|
Eligibility |
Women and girl children |
|
Interest Rate |
7.5% |
|
Tenure |
2 years (i.e.April,2023 –March 2025) |
|
Deposit Limit |
Maximum - Rs.2 lakh (Two Lakh Only) |
|
Premature Withdrawal |
Allowed |
|
Tax Benefit |
Tax benefits under Section 80C |
Ø Women and girls can invest in this scheme in
state-owned banks starting from 1st April 2023. Below are the steps to
invest in Mahila Samman Savings Certificate:
Ø Visit the nearest bank or post office
offering this scheme and get the Mahila Samman Bachat Patra Yojana form.
Ø Fill out the application form by providing personal,
financial and nomination details.
Ø Submit the form with the required documents(i.e. Voter
Card,Aadhar Card,Pan Card), such as proof of identity and address.
Ø Choose the amount of deposit and make the deposit
through cash or cheque.
Ø Receive the certificate that serves as proof of investment in the Mahila Samman Savings Certificate scheme.
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