There is good news for women. The government has made a major change regarding the Mahila Samman Saving Certificate Scheme (MSSC). Now the account holders associated with this scheme will also be able to withdraw money through Electronic Clearance Service (ECS).
However, it is worth noting that after March 31, 2025, new deposits in this scheme have been stopped, but women who have already invested can take advantage of this new facility.
What was the rule earlier?
Earlier there were three options to withdraw money from the MSSC scheme.
Cash – Transfer to Post Office Savings Account (POSA) as per the prescribed limit, payment through Postmaster Cheque, but there was no facility to send money directly to ECS i.e. other banks. This created problems for women who do not have bank accounts in the post office network.
Now money directly from ECS to bank
The government issued a circular on June 12, 2025, which said that now ECS facility has been added to Mahila Samman Yojana. That is, now women can transfer their money directly to their bank account which is not in the post office network. Women who have invested in this scheme will have to go to their nearest post office and get their ECS details updated. So that, the money can be transferred directly to their bank account. This will also save time and the process of withdrawing money will also be easy. With this change, it will become even easier for women to withdraw money. Now they will not need to take cheques or cash through the post office.
Withdrawal Rules
Women can withdraw up to 40% of the amount after one year of opening the account. In cases like death or critical illness, the account can be closed prematurely and the full interest rate (7.5%) will be available. If one closes the account after 6 months without any reason, the interest rate will be reduced by 2% to 5.5%. The MSSC scheme was announced by the Central Government to promote financial security of women. It is a scheme that matures in 2 years.
Interest rate: 7.5% per annum (for two years)
Investment limit: Minimum – Rs 1,000, maximum Rs 2 lakh (per woman)
Eligibility: Only women and girls could invest in this scheme.
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