Mahila Samman Savings Certificate (MSSC): The Mahila Samman Savings Certificate (MSSC) is a government-backed savings scheme aimed at empowering women and daughters.
The scheme is available through post offices, and women have until 31 March 2025 to take advantage of it.
Launched on 31 March 2023, the scheme was initially introduced for two years under the Amrit Mahotsav of Independence, with the goal of financially strengthening women and girls.
By investing in this scheme, you secure a safe and reliable investment option, with a guaranteed maturity period of two years. The scheme will provide higher interest rates than a traditional fixed deposit.
Duration and Closing Date:
The scheme is currently set to run until March 2025. There is no official announcement about whether it will be extended beyond this period.
If you’re considering investing, it’s better to make a decision soon to avoid missing out.
Interest Rate:
The MSSC offers 7.5% annual interest, which is significantly higher than the interest offered by 2-year fixed deposits in banks.
This makes it an attractive and safer investment option for women. You can open an account through the post office or authorized banks to benefit from this higher interest rate.
Investment Limits:
Any Indian woman can invest in the MSSC. The scheme requires a minimum deposit of ₹1,000 and allows a maximum of ₹2 lakh.
After two years, you’ll receive your full deposit along with the accumulated interest. You can also withdraw up to 40% of the invested amount after one year if necessary.
In case of a serious illness or death of the account holder, the account can be closed early, but interest might be reduced if closed before six months.
Eligibility:
The MSSC is designed for women of all ages, with no age restrictions. It is also open to parents who wish to open an account for their minor daughters.
However, note that the scheme allows only a single account holder, meaning joint accounts are not permitted.
Take advantage of this opportunity to invest in a government-backed scheme offering higher interest rates, security, and a clear path to financial independence. Don’t miss the chance to apply before 31 March 2025.
