Mahila Samman Savings Certificate Scheme for Women – Check Scheme Notification, eligibility details, interest rate, and account opening details.
Mahila Samman Savings Certificate Scheme for women has introduced in the Budget 2023-24 by the Union Minister of Finance Nirmala Sitharaman. The scheme is launched for women’s empowerment including girl children. Through this scheme, you can invest up to 2 lakhs rupees for a period of 2 years. This scheme will offer you a fixed interest rate of 7.5%.
The interest amount will be credited to the account of the account holder quarterly. You can withdraw the 40% amount after one year by using the required form for withdrawal. This scheme is valid for only two years and no account will be open after March 31, 2025.
MSSC Scheme 2023 Details
| Scheme Name | Mahila Samman Savings Certificate |
| Launched by | Indian Govt. |
| Launched on | 31st March 2023 |
| Beneficiary | Women & Girl Child |
| Interest Rate | 7.5% |
| Scheme Period | 2 Years |
| Valid Upto | 31st March 2025 |
| Location | All India |
MSSC Eligibility
As per official information, only women can submit applications for account openings under the MSSC scheme while the guardian can submit an application for a minor girl account opening. You can open any number of accounts for a single person under this scheme.
MSSC Deposit Limit
You can deposit a maximum of 2 lakh rupees in a single account under Mahila Samman Savings Certificate Scheme. You have to deposit Rs. 1000 at the time of account opening.
MSSC Interest Rate
As per the notification, you will get an interest rate of 7.5% under the MSSC Scheme. The interest will be credited on a quarterly based.
MSSC Maturity and Payment
According to the source the deposit under the MSSC Scheme shall mature after completing two years from the date of deposit. The account holder can withdraw the amount using Form-2.
Forms under MSSC Scheme
- Form 1: Account Opening
- Form 2: Maturity Payement
- Form 3: Withdrawal
How to Withdraw MSSC Partial Fund?
MSSC account holders can withdraw a maximum of 40% amount of the total eligible balance once after the expiry of one year. In the case of the minor girl’s account, the gradian may withdraw the amount on her behalf. You have to submit the respective form to withdraw the money from the Mahila Samman Savings Certificate Scheme account.
Where to open MSSC Account
You can open the account under Mahila Samman Savings Certificate Scheme in the post office and the authorized banks. The account openings under this scheme will be closed on 31st March 2025.