Mahila Samman Saving Certificate Scheme (MSSC) has been introduced as an ideal and beneficial investment scheme for Indian women. The aim of this scheme is to promote the financial empowerment of women and provide them with a safe investment option. Especially for those women who want to make a good investment along with securing their future, this scheme is a great opportunity.
What is Mahila Samman Saving Certificate Scheme?
Mahila Samman Saving Certificate Scheme is a post office based savings scheme, which has been launched by the Indian Post Office for women. By investing in this scheme, women can increase their savings and secure their money with a fixed interest rate. The main objective of this scheme is to empower women financially, so that they can create a strong economic future for themselves.
Under this scheme, women get interest up to 7.5%, and this scheme is designed for a period of 2 years. Investment in this scheme can be started from Rs 1,000, while the maximum investment limit has been kept up to Rs 2 lakh.
Can money be withdrawn before maturity?
Under the Mahila Samman Saving Certificate scheme, if you need to withdraw money before your investment, it is possible, but some terms and conditions apply to it. Let us know more about withdrawal under this scheme:
- Withdrawal after 1 year: After investing in this scheme, women investors can withdraw up to 40% of their deposit amount after 1 year. This also includes the interest that has accumulated within 1 year. For example, if a woman has invested Rs 2 lakh, then after a year her amount will increase to Rs 2,15,427, from which she can withdraw up to Rs 86,171.
- Withdrawal on critical illness: If the investor faces any critical illness, she can withdraw her investment amount, although in this case, the returns may be less, and they can be withdrawn along with the return on their principal amount.
- Withdrawal after 6 months: If an investor decides to withdraw money after 6 months, she will get 2% less interest. This means that the returns from this type of withdrawal will be slightly less.
How to withdraw money?
If you want to withdraw money before maturity under the Mahila Samman Saving Certificate scheme, then you have to follow the following procedure:
- Filling withdrawal request form: First of all, you have to go to your nearest post office and fill a withdrawal request form.
- Copy of identity card: Along with this form, you also have to submit a copy of your identity card.
- Post office terms: As per the terms and conditions set by the post office, the withdrawal process will be completed from your account.
Key Benefits of Mahila Samman Saving Certificate Scheme
- Minimum Investment: Rs 1,000
- Maximum Investment: Rs 2 lakh
- Tenure: 2 years
- Interest Rate: 7.5% per annum
- Withdrawal Rules: Withdrawal up to 40% after 1 year, lower interest after 6 months
- Service: Through Post Office
Returns in Mahila Samman Saving Certificate Scheme
In Mahila Samman Saving Certificate Scheme, you get up to 7.5% interest, which is credited every quarter. Under this scheme, both returns and principal amounts are available only after the completion of the scheme period.
What is Mahila Samman Savings Certificate Scheme?
Mahila Samman Savings Certificate (MSSC) is a post-office-based savings scheme launched by the Indian Post Office for women. This scheme offers up to 7.5% interest to women and aims to empower women financially.
What is the minimum and maximum investment limit in this scheme?
The minimum investment amount in this scheme is Rs 1,000, while the maximum investment limit is kept up to Rs 2 lakh.
What is the duration of this scheme?
The duration of Mahila Samman Savings Certificate Scheme is 2 years.
If I want to withdraw money after 1 year, how much amount can I withdraw?
After 1 year, you can withdraw up to 40% of your deposit amount, which includes interest. For example, if you have invested Rs 2 lakh, then after 1 year you can withdraw up to Rs 86,171.
What is the process of withdrawing money?
First of all, you have to fill out the withdrawal request form.
A copy of your identity card has to be submitted along with this form.
The withdrawal process will be completed as per the terms and conditions of the post office.
What is the interest rate in this scheme?
The Mahila Samman Savings Certificate Scheme offers 7.5% interest per annum, which is credited every quarter.
When will I get returns after investing in this scheme?
Both the returns and the principal amount are received only after the completion of the scheme’s tenure.
Who can invest in Mahila Samman Savings Certificate Scheme?
This scheme is specially designed for women, so only women can invest in this scheme.
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