Mahila Samman Savings Certificate: From time to time, the Central Government keeps coming up with many schemes for women. While presenting Budget 2023, Finance Minister Nirmala Sitharaman had launched the special scheme of Mahila Samman Bachat Yojana. This scheme has been specially designed according to the needs of women.
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Know the details of Mahila Samman Saving Certificate Scheme
Mahila Samman Saving Certificate Scheme is a small savings scheme, in which women can invest up to Rs 2 lakh. In this scheme, interest rate of 7.50 percent on the deposited amount is available on the basis of compounding. The maturity period of the scheme is 2 years.
If you invest money in November 2023, the maturity of the account will be in November 2025. But, many times after investing money, people have to close the account before the completion of the period. In such a situation, under this scheme you get the facility of premature withdrawal. You can withdraw money from the account even after one year.
What are the premature withdrawal rules of MSSC account?
Under Mahila Samman Saving Certificate Scheme, you get the facility to withdraw up to 40 percent of the deposited amount after one year of opening the account. Apart from this, if any account holder dies then in such a situation the nominee can withdraw the deposited amount by claiming the money.
Apart from this, the account holder can also make premature withdrawal from the account in case of any major illness. If you close the account prematurely for any reason, you will get the benefit of interest at the rate of 5.50 percent instead of 7.50 percent.
How to open an account?
Under Mahila Samman Saving Certificate Scheme, women of any age can open this account. The government has not fixed any age for this. The account of a minor girl is opened under the supervision of parents. Apart from post office, you can open this account in bank. While opening an account, you will have to complete the KYC process by submitting a form. After this you can deposit up to Rs 2 lakh in this account.
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