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Mahila Samman Savings Certificate: The Post Office Mahila Samman Savings Certificate Scheme has been launched to promote investment in women and girls. The government is running this scheme for women. Women can invest in Mahila Samman Certificate till March 2025.
Who can open an account?
Women: Indian women of any age can open an account and invest under this scheme.
Guardian: The scheme is also available for minor girls, where their legal guardian or guardian can open the account.
interest rate
Interest Rate: This scheme offers an interest rate of 7.5% per annum, which is paid on a quarterly basis.
Interest Payment: Both interest and principal amount are payable on maturity.
Tax: Interest is exempted under Income Tax Act 80C, but TDS is deducted on interest income.
Investment and maturity
Investment period: Investing Rs 2 lakh over a period of 2 years will yield Rs 2.32 lakh on maturity.
Minimum Investment: Investments can be made from Rs 1,000 in multiples of 100.
Maximum investment: There is a limit of Rs 2 lakh per account.
MSSC Rules
Death: The account can be closed in case of death of the account holder.
emergency situation: The account can be closed in case there is a threat to the life of the account holder, but documents will have to be provided for this.
without reason: The account can be closed without any reason after six months of opening the account, but the interest will be 2% less i.e. 5.5%.
When can you withdraw money: 40% of the money can be withdrawn after 1 year of opening the account.
Account opening process
document: Aadhar Card, PAN Card and KYC Documents are required.
Process: Go to the nearest post office and submit the form and also submit the pay-in-slip along with the cheque.
Banks: Mahila Samman certificates are also available in many banks of the country. Mahila Samman Savings Certificate Scheme gives women an opportunity for safe and profitable investment.
