Central GovernmentVerified

Mahila Samman Savings Certificate

Department: Department Of Economic Affairs

The scheme aims to provide a secure savings option with assured returns for women. Through this scheme, 7.5% interest and flexible savings benefits are provided to women and minor girls.

Start date1 Apr 2023

Last verifiedToday

Official Source ↗

About This Scheme

The scheme “Mahila Samman Savings Certificate” launched by the Department of Economic Affairs, Ministry of Finance aims to provide financial security and attractive investment opportunities to girls and women in India. It is available through Post Offices and eligible Public and Private Sector Banks, ensuring wider accessibility. The scheme offers a 2-year tenure with an interest rate of 7.5% per annum (compounded quarterly) on deposits ranging from ₹1,000 to ₹2,00,000. It also allows partial withdrawal of up to 40% of the balance and is valid for subscription until 31st March 2025.

Benefits

Interest Credit: Interest is compounded quarterly and credited to the account.

> Note:

₹2.0 L · annual

Investment Options: Provide attractive and secure investment options for girls and women. - Interest Rate: Offers fixed interest of 7.5% per annum, compounded quarterly. - Investment Limit: The maximum investment ceiling is ₹2,00,000 with flexible investment options. - Tenure: The scheme has a duration of 2 years.

The interest payable to the account holder in respect of any account opened or deposit made which is not in consonance with the provisions of this Scheme shall be payable at the rate applicable to the Post Office Savings Account.

Eligibility

Note: You may be eligible based on the information shown. Please verify the official eligibility requirements before applying.

Required Documents

✦
Passport
✦
Driving license
✦
Voter’s ID card
✦
Job card issued by NREGA signed by the State Government officer
✦
Letter issued by the National Population Register containing details of name and address

✦ Required ◦ Optional

How to Apply

IIn-person

Quick Info

Level: Central Government
Max benefit: ₹2.0 L
Launched: 1 Apr 2023