Mahila Samman Savings Certificate (MSSC) | New post office scheme for women: Investment limit, interest rate, How to open | Postal Saving Schema | MSSC - Smart Vision Classes

The Mahila Samman Savings Certificate was introduced in Budget 2023 for female investors. This is a one-time small savings scheme that will be offered for two years. However, the official announcement and details are yet to be released by the government

According to Sitharaman, "For commemorating Azadi Ka Amrit Mahotsav, a one-time new small savings scheme, Mahila Samman Savings Certificate, will be made available for a two-year period up to March 2025. This will offer deposit facility up to Rs.2 lakh in the name of women or girls for a tenor of 2 years at fixed interest rate of 7.5 per cent with partial withdrawal option. "

Also read: Post Office Schemes latest Interest Rates in India for 2023

✅Limit

The maximum deposit amount for the Mahila Samman Savings Certificate is Rs 2 lakh

✅Tenor and interest rate
The scheme has a two-year term i.e., up to March 2025 and a 7.5 percent annual interest rate, with the option of partial withdrawal.

✅Small savings scheme taxation
This is a government-backed small-savings plan. Generally, Section 80C tax benefits are available for small savings plans. The details on this are yet to be announced.

✅Interest rate comparison with other banks
Mahila Samman Certificate offers 7.5% interest on 2 year tenure, .

Documents required to open Mahila Samman Certificate
To open any small savings schemes account with the Post office, below are the documents which should be submitted along with account opening application.
(a) How to open account
Submit the following forms/documents duly signed and filled at desired Post Office.
✔ Account Opening Form
✔ KYC Form (For new customer/modification in KYC details))
✔ PAN Card
✔ Aadhaar card, if Aadhar is not made available the following document may be submitted.
✔ Passport 2.Driving license 3. Voter’s ID card 4. Job card issued by MNREGA signed by the State Government officer 5. Letter issued by the National Population Register containing details of name and address.