The Mahila Samman Savings Certificate (MSSC) is a one-time government-backed small savings scheme for women investors. Individuals can make deposits in the name of a woman or a girl child. The maximum investment limit is ₹2 lakh and the tenure is 2 years.
This scheme will earn a fixed interest rate of 7.5%, at par with many other small savings schemes and current bank FD rates.
– The Mahila Samman Savings Certificate will also allow partial premature withdrawal – For the time being, the scheme is available only for 2 years between April 2023 and March 2025 – At 7.5%, the maximum investment of ₹2 lahks can grow to ₹2.32 lakh in 2 years
Small savings schemes usually qualify for tax exemptions under Section 80C of the I-T Act, while many like PPF and SSY also enjoy E-E-E tax benefits. However, there’s no clarity yet about the tax benefits of MSSC.
– Visit the nearest participating bank or post office offering this scheme and get the Mahila Samman Bachat Patra Yojana form – Fill out the application form by providing personal, financial and nomination details – Submit the form with the required documents, such as proof of identity and address
– Choose the amount of deposit and make the deposit through cash or cheque. – Receive the certificate as proof of investment in the Mahila Samman Savings Certificate scheme.
Beside MSSC, You Can Also Grow Your Wealth By Investing in Navi Mutual Fund
Low-Cost
Diverse Sectors
Exposure to International Market
Disclaimer: Mutual fund investments are subject to market risks, read all scheme-related documents carefully.