look news india
Investment Tips: Reserve Bank Governor Shaktikanta Das had said a day earlier that people are now keeping away from investing in banks. The reason is that keeping money in the bank is not giving as much interest as other schemes are giving. If we talk about women, then most of the women in small cities, towns and villages do cash FD for good returns. However, they do not get much return on their money here. In such a situation, Mahila Samman Savings Certificate Scheme can prove to be very useful. By investing in this scheme, women get more returns than FD in a short time.
- In this scheme, interest is given at the rate of 7.5%.
- The maturity period of this scheme is two years
- You will have to invest in it for two years
Mahila Samman Savings Certificate is a government scheme that provides fixed returns. It was launched by the central government last year. Former Union Minister Smriti Irani also opened her account in this scheme. Any girl or woman above 18 years of age can open an account under this scheme. The account can be opened in any post office. However, some banks are also providing the facility of opening this account. These include Bank of Baroda, Canara Bank, Bank of India, Punjab National Bank and Union Bank of India.
What are the features of this scheme?
- Currently, this scheme offers a fixed interest rate of 7.5% per annum. However, the interest is calculated on a quarterly basis. Since the interest is fixed, investing in it does not have the risk of fluctuations like the stock market.
- Any woman can open an account under this scheme. If a woman has a daughter, she can also open an account in her daughter's name.
- This scheme is for 2 years i.e. after 2 years the account will mature and the total amount invested will be returned along with interest.
- In this, a minimum investment of Rs 1000 and a maximum of Rs 2 lakh has to be made for two years. Amounts above Rs 1000 can be deposited only in multiples of 100.
- After one year of opening the account, up to 40 percent of the total deposit amount can be withdrawn in case of any emergency.
These documents will be needed
- These documents will be required to open an account under this scheme:
- passport size photo
- Birth Certificate
- Aadhar card
- PAN card
- Bank passbook
How much will you benefit?
This scheme is very beneficial for short term investment. Investing in this scheme gives more interest than FD. However, senior citizens can get more benefit by investing in FD than this scheme. But investing in Mahila Samman Certificate Scheme is very beneficial for women below 60 years of age. If a woman invests Rs 2 lakh in this scheme, then after two years she will get interest of Rs 32,044 and the total amount invested will be Rs 2,32,044.
