Mahila Samman Saving Certificate Scheme : In 2023, the Government of India has launched a new savings scheme for women, named Mahila Samman Saving Certificate Scheme (MSSC). Its objective is to encourage women to save and make their future secure. This scheme is becoming increasingly popular among women, as it not only gives good returns, but its interest rates are also higher than the bank FD schemes. If you want to take advantage of this scheme, then you can open your account by visiting any post office.
What is MSSC Scheme?
Mahila Samman Saving Certificate Scheme is a safe and attractive interest rate based savings scheme, which is specially designed for women. Under this, any Indian woman can invest in this scheme. Apart from this, parents can also open an account in this scheme for their daughter below 10 years of age. Currently 7.5% annual interest rate is being given on this scheme, which makes it an excellent option.
What will be the maturity on Rs 2 lakh?
The Mahila Samman Saving Certificate Scheme pays 7.5% annual interest, which is based on quarterly compounding. If you invest Rs 2 lakh in this scheme, after two years you will get a total of ₹2,32,044.33. That is, you will get an interest of ₹32,044.33. This interest is compounded on a quarterly basis and credited to your MSSC account. You will be paid interest at the time of maturity or during partial withdrawal.
Interest breakdown:
- At the end of the first quarter: ₹3,750 interest will be added to the total amount, taking the total amount to ₹2,03,750.
- At the end of the second quarter: ₹3,820.31 will be added to the total amount, taking the total to ₹2,07,570.31.
- In the third quarter: ₹3,891.94 will increase to ₹2,11,462.26.
- With interest compounding in the next quarters, a total of ₹2,32,044.33 will be received at the end of 2 years.
Who can open this MSSC account?
Indian women, irrespective of their age, can invest in this scheme. An account can also be opened in the name of minor daughters, provided their account is opened by their guardian. Joint account is not allowed in this scheme, only single account can be opened.
How to open an account in this scheme?
If you want to invest in this Small Savings Scheme, then you have to go to the post office (Mahila Samman Saving Certificate Scheme) or bank and open your account. For this you have to fill Form-1 and submit some KYC documents like Aadhar card, PAN card, and photograph.
Conclusion:
Mahila Samman Saving Certificate Scheme is a great savings scheme, which gives women an opportunity to increase their savings at a better interest rate. If you are looking for a safe and high-interest scheme, then this scheme can be a great option for you. Through this, you can not only ensure your financial security but can also save well for the future.
Read More
Planning For Retirement? Get ₹20,000 Every Month With The Senior Citizen Saving Scheme
Know These Important Things Before Taking a Home Loan, So That The Loan Does Not Become a Burden
Dailynews24 App :
Read the latest News of Country, Education, Entertainment, Business Updates, Religion, Cricket, Horoscope Here. Read Daily Breaking News in English and Short Video News Covers.
