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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The post MSSC: Govt Major changes in Mahila Samman Savings Certificate Scheme, you will be able to withdraw money from ECS as well first appeared on Rightsofemployees.com.

On investment of Rs 1 lakh, you will get fixed interest of Rs 16,022

If you want, you can open an MSSC account in any bank in the country. Apart from banks, you can also open a Mahila Samman Savings Certificate account in your nearest post office. If you are a man, you cannot take advantage of this scheme. However, you can open an account in the name of your mother and sister in this scheme. If you are married, you can earn huge profits by opening an account in the name of your wife in MSSC. If you deposit Rs 1,00,000 in this scheme in the name of your wife, then your wife will get a total of Rs 1,16,022 on maturity. Which includes a fixed interest of Rs 16,022.

Last date for investment in MSSC is March 31, 2025

Mahila Samman Savings Certificate is a government scheme, in which you get fixed interest with government guarantee. Let us tell you that the last date for investment in this scheme is March 31, 2025. Investment in this scheme will not be possible from April 1, 2025. Actually, there was a demand to extend the last date of this scheme. But in the budget presented on February 1, 2025, Union Finance Minister Nirmala Sitharaman did not make any announcement regarding the date of this scheme, so this scheme will close on March 31 with the closure of banks and post offices.

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The post Best schemes for Women: Deposit ₹1,00,000 in wife’s name and get fixed interest of ₹16,000, know all details first appeared on Rightsofemployees.com.

If you are a woman and want to get bumper returns by investing your deposits in the short term, then this news is of your use. Actually, the central government had launched a special investment scheme for women in the budget of the year 2023, which is known as Mahila Samman Savings Certificate. Under this scheme, any woman can avail the benefit of 7.50 percent interest annually by investing her deposits. Let us know about the entire scheme in detail.

How much can you invest

The maturity period of Mahila Samman Savings Certificate Scheme is 2 years. Under this scheme, any woman can invest a minimum deposit of Rs 1,000 to a maximum of Rs 2,00,000. Women of any age can open an account under this scheme. However, a girl below 18 years of age is eligible to open an account under this scheme under the supervision of her parents.

How to open an account in this scheme

Under the Mahila Samman Savings Certificate Scheme, you can open an account in the post office or authorized government and private banks. While opening an account, you will have to complete the KYC process by submitting a form. For this, you will need Aadhaar card, PAN card and passport size photo as your documents. Let us tell you that under this scheme, account holders can open their account till March 31, 2025.

You can withdraw money before maturity

Let us tell you that under this scheme, account holders can withdraw up to 40 percent of their deposited capital after 1 year. Apart from this, if the account holder dies in any situation, then the nominee can withdraw the deposited capital by claiming this page. However, if the account holder closes the account prematurely for any reason, then he will get interest of only 5.50 percent instead of 7.50 percent. Let us tell you that the last date to invest in this scheme is March 2025.

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The post Central Govt Scheme is a Superhit for Women, Here You are Getting 7.50% interest on Deposited Capital first appeared on Rightsofemployees.com.

If you are married then you can also take advantage of this scheme. Yes, we are talking about Mahila Samman Savings Certificate (MSSC). Let us tell you that PM Narendra Modi’s government started this scheme in the year 2023. Only women’s accounts can be opened under this scheme.

You can deposit a minimum of Rs 1000 and a maximum of Rs 2 lakh

MSSC is getting 7.5 percent interest. Under this scheme, you can deposit a minimum of Rs 1000 and a maximum of Rs 2 lakh. This scheme matures in 2 years. However, you can withdraw 40 percent of the eligible balance after 1 year from the date of opening the account. Under this scheme, you can open a Mahila Samman Savings Certificate account in the name of your wife in any bank or post office.

Deposit ₹2 lakh and get guaranteed interest of ₹32,000

Under the Mahila Samman Savings Certificate Scheme, you cannot deposit more than Rs 2 lakh. Even if you deposit Rs 2 lakh, you will get 7.5 percent interest on this amount. According to this, your wife will get a total of Rs 2,32,044.00 on maturity. That is, your wife will get a total interest of Rs 32,044 on a deposit of Rs 2 lakh.

Account can be opened in the name of daughter or mother

If you are not married yet, you can also invest in Mahila Samman Savings Certificate Scheme in your mother’s name. Not only this, if you have a daughter, you can also invest in her name.

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The post Best schemes for Women: Deposit ₹ 2 lakh in wife’s name and get guaranteed interest of ₹ 32,000, Key Details Inside first appeared on Rightsofemployees.com.

If you are a woman and want to get bumper returns by investing your deposits in the short term, then this news is of your use. Actually, the central government had launched a special investment scheme for women in the budget of the year 2023, which is known as Mahila Samman Savings Certificate. Let us tell you that under this scheme any woman can invest, who will get an annual interest of 7.50 percent on her deposits. Let us know about the entire scheme in detail.

You can invest up to Rs 2 lakh

The maturity period of Mahila Samman Savings Certificate Scheme is 2 years. Under this scheme, any woman can invest a minimum deposit of Rs 1,000 to a maximum of Rs 2,00,000. Women of any age can open an account under this scheme. However, a girl below 18 years of age is eligible to open an account under this scheme under the supervision of her parents.

How to open an account in this scheme

Let us tell you that under the Mahila Samman Savings Certificate Scheme, you can open an account in the post office or authorized government and private banks. While opening an account, you will have to complete the KYC process by submitting a form. For this, you will need Aadhaar card, PAN card and passport size photo as your documents. Let us tell you that under this scheme, account holders can open their account till March 31, 2025.

You can withdraw money even before maturity

Under this scheme, the government has also provided the facility of premature withdrawal to the customers. Under this scheme, the account holders can withdraw up to 40 percent of their deposited capital after 1 year. Apart from this, if the account holder dies in any situation, then the nominee can withdraw the deposited capital by claiming this page. However, if the account holder closes the account prematurely for any reason, then he will get interest of only 5.50 percent instead of 7.50 percent.

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Since this is a government scheme, investment in it is completely safe. The government introduced this scheme to make women financially independent. Its interest is higher than many other savings schemes of the government. A maximum of Rs 2 lakh can be invested in this scheme.

Benefits of investing in MSSC

Investment in this scheme can be made online. In today’s busy life, most people are short of time. Therefore, investors want to invest in such schemes which are available online. Some banks offer the facility of online investment in MSSC . Bank of Baroda, Canara Bank, Bank of India provide the facility of investing in this scheme. Before investing in this scheme, it is necessary to collect some documents. These include ID proof, Aadhaar, PAN and address proof documents. Apart from this, passport size photo and a savings account are also necessary.

What is the process of investing?

To invest online in this scheme, you have to log in to the bank’s website. Investment in this scheme can also be done through the bank’s mobile app. After logging in to the bank’s website, you will see this scheme in the savings or investment section. After selecting it, you will have to enter the necessary information in the application form. These include name, contact details, address, savings account number.

Will there be tax on interest income?

After filling the application form, you will have to pay the investment amount. You can make payment through net banking facility, UPI etc. After payment, you will get confirmation of investment. You will be sent Mahila Samman Savings Certificate online by the bank. If you want, you can also download it from the bank’s website. One thing to keep in mind is that the interest you get on investment in this scheme will be taxable.

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This scheme has been brought especially for women. You can invest in this scheme till March 2025. Investment is made in it for two years and you can deposit a maximum amount of up to Rs 2 lakh.

This scheme has been introduced with the aim of encouraging women to save and invest. Any woman can invest in the Mahila Samman Savings Certificate Scheme.

Fully secured scheme

Under this scheme, the minor account is opened by the guardians. MSSC is a government-backed scheme and it is 100 percent safe. At present, interest is given at the rate of 7.5 percent on this scheme of the Government of India.

Interest will be available up to Rs 32,044

Under the scheme, compound interest on the deposited amount is added on a quarterly basis. If a woman invests a maximum of Rs 2 lakh in MSSC, she will get a total interest of Rs 32,044 during the invested period. The maturity amount after 2 years will be Rs 2,32,044. The deposited amount in the scheme can also be withdrawn before time. Only 40 percent of the amount can be withdrawn within one year of investing.

How much can you invest

More than one account can be opened under this scheme, but the second account can be opened only after three months of opening the first account. The total deposit in all accounts under MSSC cannot exceed Rs 2 lakh. A minimum of Rs 1,000 can be deposited in one account. Apart from this, the amount can be deposited in multiples of 100.

You also get tax saving

In this scheme of the Government of India, the investor also gets the benefit of tax exemption under Section 80C of Income Tax. If the account holder dies before maturity after the scheme is started, the nominee can claim the deposited capital. If the account is closed prematurely for any reason, interest will be given on the basis of 5.5 percent. Tax has to be paid on the interest earned in this scheme. TDS is deducted on interest.

How can you open an account

To avail the benefits of Mahila Samman Savings Certificate Scheme, you can go to the nearest post office or bank. You can start your investment by filling the form of this scheme. After the scheme starts, you will be given a certificate, which will have to be kept for 2 years.

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The post Great Post Office Scheme for Women, not only will you get tax exemption, you will also get interest up to ₹ 32 thousand first appeared on Rightsofemployees.com.

Post Office Saving Schemes: If you also invest in Post Office or any other saving scheme for tax saving, then this news is useful for you. In such a situation, it is important for you to know that you do not get tax benefits on all investments made in post office. Actually, many such investment schemes have been started by the government, on which you get good returns but you do not get tax benefit on investment under Section 80C of the Income Tax Act 1961. Let us talk about such schemes in detail-

1. Mahila Samman Saving Scheme

Mahila Samman Savings Scheme 2023 (Mahila Samman Savings Certificate) of the Government of India is a small savings scheme especially created for women. The purpose of starting this scheme is to develop the habit of saving among Indian women. There is no age limit to avail the benefit of the scheme but it is necessary for you to live in India.

There is tax on the interest received in this scheme. It simply means that you will not get any exemption on this like tax saving FD. TDS will be deducted on the interest received from Mahila Samman Saving Scheme depending on the tax slab (tax category) of each person and the interest income.

2. National Saving Time Deposit Account

You can open a time deposit account in post office for one, two, three or five years. If you want, you can increase this period further later. For this you will have to fill a form in the post office. For your information, let us tell you that 6.9% interest is available on this account for one year, 7.0% for two years and 7.1% for three years.

Under this, you can get income tax exemption on time deposits of five years in the post office. Under the Income Tax Act 1961, tax exemption is available on investment up to Rs 1.5 lakh on a time deposit of five years. But it is not available for an investment less than this.

3. National Savings Recurring Deposit Account

In this guaranteed scheme of the post office, you get 6.7% interest on annual basis for 5 years. In this you also get the benefit of compound interest every year. The special thing about this scheme is that in this you can open an account either alone or together. The good thing about this is that you can take advantage of this scheme by depositing at least Rs 100 or its multiple every month. There is no limit on deposit in this.

4. Kisan Vikas Patra

You will not get income tax exemption even on Kisan Vikas Patra. Many people have this confusion that they get tax benefits on the investments made under this. The annual interest on the amount deposited in Kisan Vikas Patra is taxable as ‘Income from other sources’. The good thing is that TDS is not deducted on the money withdrawn after maturity. However, despite not getting tax exemption, Kisan Vikas Patra is definitely a safe investment option.

5. Post Office Monthly Income Scheme

Post Office Monthly Income Scheme can be a good option for investment. You can invest in it starting from Rs 1,500 to a maximum of Rs 9 lakh. You can invest up to Rs 15 lakh in a joint account. You will get 7.4% interest every year, but it is taxed. This investment does not come under Section 80C of the Income Tax Act 1961. TDS is deducted on interest more than Rs 40,000, for senior citizens the limit is on interest more than Rs 50,000.

The post Post Office Saving Schemes : Bumper returns in these 5 saving schemes of post office, but you will not get the benefit of 80C first appeared on Rightsofemployees.com.

Many types of schemes are being run by the government to empower women. One of these schemes is the Mahila Samman Savings Certificate Scheme of the Post Office. In this, the government provides women the facility to secure their future with returns.

This is a small savings scheme. The government gives 7.5 percent interest on this scheme. This interest is added to the account every quarter but the entire principal is received after maturity. Guaranteed returns are available in this scheme.

How much return will you get on 2 years investment?

If someone invests Rs 2 lakh in this scheme in 2 years, then she will get Rs 2.32 lakh at maturity. Actually, this scheme works just like FD. You can invest at least Rs 1,000 in this scheme. Its maximum limit is Rs 2 lakh.

If investors wish, they can also open two accounts. However, there should be a gap of at least 3 months between the two accounts. After one year of opening the account, up to 40 percent of the amount can be withdrawn.

To avail the benefits of this scheme, you can open an account by going to your nearest post office. To open an account you will have to submit the form.

Apart from this, you will also have to provide Aadhaar Card and PAN Card to update KYC. You will also have to attach the pay-in-slip with the cheque. The benefits of this scheme are available in many banks of the country. This means that you can also go to the bank and open an account for this.

The post Mahila Samman Savings Certificate! Now women will also become rich through the scheme, the government gives guaranteed returns first appeared on Rightsofemployees.com.

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.

The post MSSC Rules:Know about the rules and penalty rules for premature closure of account of Mahila Samman Savings Certificate first appeared on Rightsofemployees.com.

To encourage citizens to save regularly, the government is running Small Saving Scheme.

Recently, the government had released the list of interest rates for small savings schemes like Monthly Income Scheme (MIS) account, Senior Citizen Saving Scheme (SCSS) account and Mahila Samman Saving Certificate (MSSC) account for the December quarter . Today we are going to tell you how to open MIS, SCSS and MSCC accounts online.

Postal Department issued circular

Issuing a circular, the Postal Department said that customers of MIS, SCSS and MSCC schemes can now open accounts online also.

Customers can now open accounts for these schemes by visiting the Internet Banking facility of the Postal Department .

What is step by step process?

• Let us tell you that the process of opening accounts of MIS, SCSS and MSCC schemes is the same:
• First of all you have to go to the internet banking website of the postal department.
• After this you will have to click on ‘General Service’ tab.
• After this you will have to click on the ‘Service Request’ tab.
• After this you select ‘New Request’ and click on ‘OK’.
• Then click on the option whose account you want to open. Like ‘MIS Account or MSSC Account or SCSS Account.

• Then enter the deposit amount (the amount should be determined as per the scheme rules).
• After this select the debit account (linked PO savings account).
• Then enter ‘Transaction Comments’ if required.
• Then select the check box to agree to the terms and conditions
• Then click on ‘Submit Online’.
• Enter ‘Comment’ if additional details are required.
• Then set ‘Transaction Password’
• Finally click on ‘Submit’ (Account will be opened once all conditions are met). After this you can download and view the deposit receipt.

The post How to open MIS, SCSS and MSCC account online, know the step by step process here first appeared on Rightsofemployees.com.

Union Finance Minister Nirmala Sitharaman launched Mahila Samman Saving Certificate during the budget presented for this business year (2023-2024). Canara Bank said in an official tweet that as your trusted banking partner, we are committed to supporting the financial growth and empowerment of women.

It is known that Mahila Samman Saving Certificate, 2023 (MSSC) provides a safe investment option to a woman for herself or by a guardian on behalf of a minor girl child. Let us know in detail about the Mahila Samman Saving Certificate Scheme.

The post Bank has brought this special scheme with strong returns, if you invest then you will get so much profit first appeared on Rightsofemployees.com.

This is a lump sum investment scheme in the short term, which has been started for 2 years at present. This is a great scheme for women, in which along with good returns, the benefit of compounding is also available. If a woman investor deposits Rs 2 lakh in this scheme, then after two years she will get an interest of Rs 32 thousand 44.

Minimum Rs 100 can be deposited

At least 1000 rupees can be invested in this scheme. After that Rs 100 can be invested in multiples and the maximum limit is Rs 2 lakh. This scheme has started from 1 April 2023. At present, this scheme will remain open for investment till March 31, 2025. There can be more than one account in the name of a woman. A gap of at least 3 months is necessary between opening two accounts.

Getting interest of 7.5 percent

Talking about the interest rate, 7.5 percent interest is being received on this scheme. Interest is paid after 2 years, but is calculated quarterly compounding. Talking about tax calculation, the interest amount is added to your total income and tax is levied according to the tax bracket. Talking about TDS, interest income up to 40 thousand from the post office does not come under the purview of TDS.

Private banks also got permission

Seeing the increasing attraction towards this scheme, the government has recently changed the rule. Now apart from public sector banks, Mahila Samman Saving Certificate account can also be opened in ICICI BAnk, Axis Bank, HDFC Bank and IDBI Bank.

The post Most Special scheme for women! You will get 32 thousand only in interest on 2 lakh and also the benefit of compounding first appeared on Rightsofemployees.com.

The minimum money required to open an MSSC account in a post office is Rs 1000 and thereafter one has to invest in multiples of Rs 100. However, a maximum of Rs 2 lakh can be invested in it. Rs 2 lakh can be deposited in one MSSC account or in multiple MSSC accounts. But the total money deposited in all the MSSC accounts of a woman or minor girl should not exceed Rs 2 lakh.

This is the rules of Mahila Samman Yojana

An account holder can open multiple accounts under the MSSC scheme. So, women can invest in this scheme by saving some money daily. However, a rule states that after opening the first account, there should be a gap of about three months between opening the second account. That is, if one account is opened today, then the next account can be opened after 3 months.

this is the complete calculation

For example if you save just Rs.267 daily, you will have Rs.8010 at the end of the month (after 30 days). At the end of three months the total money in your hand will be Rs 24,030. You can invest Rs 24000 in a new MSSC account after three months, which will earn 7.5% interest and after the maturity period of 2 years is over, you will get around Rs 27,845. Thus, by investing Rs 24,000 every quarter in MSSC account, you will be able to withdraw approximately Rs 27,845 after every three months gap for 2 years.

Interest will be given every three months

MSSC account interest is available every three months. This money is deposited in your account but its payment is done only after the account is closed. MSSC account holders are allowed to withdraw 40 per cent after one year from the date of account opening.

The post Best Govt Scheme: Deposit Rs 267 daily in this scheme, get Rs 27,845 every 3 months – Details Here first appeared on Rightsofemployees.com.

Whatever interest women will get under this scheme, they will have to pay tax on that income according to the tax slab. The Central Board of Direct Taxes (CBDT) has notified the Tax Deducted at Source (TDS) provision for the Post Office Savings Scheme on 16 May. Under this, MSSC account can be opened in the name of any girl or woman of the country.

Saving scheme for women started this year

Mahila Samman Savings Certificate Scheme has been launched in the current financial year, announced by the Finance Ministernirmala sitharaman Presenting the budget for the year 2023-24, Under this savings scheme, any woman can deposit a minimum of Rs 1000 to a maximum of Rs 2 lakh in her account. It earns an interest of 7.5 percent per annum. The amount deposited under the Mahila Samman Savings Certificate Scheme will mature in 2 years.

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Tax will not be deducted on income less than 40 thousand rupees

Neeraj Agarwal, partner, Nangia Andersen India, said that the CBDT notification clarified that TDS will not be deducted if the interest earned on Mahila Samman Savings Certificate does not exceed Rs 40,000 in a financial year.
2 lakh on MSSC will get this much interest in two years

Neeraj Aggarwal said, “Under the scheme, 15,000 interest will be made in a year on a deposit of Rs 2 lakh at 7.5 percent interest. In two years it will be Rs 32,000. In such a situation, it can be said that since the interest is less than Rs 40,000 in any one financial year, TDS will not be deducted. Can be opened.

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The Central Board of Direct Taxes (CBDT) on May 16 notified the Tax Deducted at Source (TDS) provision for the Post Office Savings Scheme. Under this, an account can be opened in the name of a girl or a woman.

Mahila Samman Bachat Patra Yojana was started in the current financial year. A maximum of two lakh rupees can be deposited in this. 7.5 percent interest will be given annually on this. The deposit will mature in two years. Neeraj Aggarwal, partner, Nangia Andersen India, said that in the CBDT notification, it has been clarified that TDS will not be deducted if the interest received on Mahila Samman Savings Certificate does not exceed Rs 40,000 in a financial year.

How much interest is being made now

Agarwal said, “Under the scheme, 15,000 interest will be made in a year on a deposit of two lakh rupees at 7.5 percent interest. In two years it will be Rs.32,000. In such a situation, it can be said that since the interest in any one financial year is less than Rs 40,000, TDS will not be deducted.

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What is this scheme

Mahila Samman Bachat Patra Yojana has been started with the aim of encouraging women to save and giving more interest. This scheme was started from 1 April 2023. Only Indian women will get the benefit of this scheme. Women of any age can get the benefit of Mahila Samman Savings Letter Scheme. You can open this account in any post office in India. For this, Aadhaar card, PAN card and photo are necessary documents.

For how many years can be deposited

Money can be deposited for 2 years in Mahila Samman Bachat Patra Yojana. In this, you get the interest of 2 years at the same time on maturity. On investing a maximum of Rs 2 lakh at an interest rate of 7.5 per cent, an interest of Rs 320000 will be received after 2 years. That is, you will get Rs 2.32 lakh on maturity. There must be a gap of at least 3 months in each installment.

The post MSSC Yojana: TDS will not be deducted on the interest of Mahila Samman Savings Certificate, tax to be paid on tax slab basis first appeared on Rightsofemployees.com.

Women will now be able to buy Mahila Samman Saving Certificate (MSSC) from post offices. The Finance Ministry, while issuing notification for Mahila Samman Savings Certificate, 2023, has made it available in 1.59 lakh post offices with immediate effect.

This scheme was announced by the Union Finance Minister Nirmala Sitharaman in the budget of 2023-24 on the occasion of ‘Amrit Mahotsav of Independence’ and is an important step towards financial inclusion and empowerment of women including girls. The scheme has flexible investment and partial withdrawal options with a tenure of 2 years. In this, with a maximum investment of Rs 2 lakh, compound interest of 7.5 percent will be available quarterly. The scheme is valid for a period of two years till March 31, 2025.

If you invest in Women Savings Certificate in March 2023, you can withdraw money from this scheme till March 2025. At the same time, you can definitely make partial withdrawals during these two years.

Investment limit increased in MIS

The Monthly Income Account (MIS) Scheme 2019 has been amended through the National Savings (Monthly Income Account) (Amendment) Scheme, 2023 and the maximum investment limit has been increased from Rs 4.5 lakh to Rs 9 lakh for single account and joint account with effect from 1 April 2023 For Rs. 9 lakh to Rs. 15 lakh has been increased. Similarly, the investment limit in Senior Citizen Savings Scheme has been increased from Rs 15 lakh to Rs 30 lakh.

More interest started on small savings

Interest rates on all small savings schemes, except PPF, have also been revised by increasing them from April 1, 2023. Small savings customers of the post office will benefit more from these measures. Along with this, more investment will be attracted in these schemes through post offices especially in rural areas and among girls, women, farmers, artisans, senior citizens, factory workers, government employees, small traders and other sections of the society. They will get better returns on the investments made in small savings schemes.

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