The government runs a special deposit scheme for women, in this scheme very good interest is given to women. Know here which scheme is better for women to choose between FD and MSSC.
Fixed Deposit-FD has always been people’s favorite option in terms of investment. Even today, there are many options which give better returns than this, but those who like safe investment often prefer to choose FD. But if a woman is looking for a better option for investment for two years, then instead of FD, she can invest under MSSC i.e. Mahila Samman Savings Certificate. In this scheme they can get much better returns than FD.
How much interest is available on 2 year deposit?
- Interest in post office – 7.0%
- Interest in State Bank – 6.80%
- Interest in Canara Bank – 6.85%
- Interest in Bank of India – 7.25%
- Interest in Bank of Baroda – 6.75%
- Interest in Punjab National Bank – 6.80%
- Interest in Mahila Samman Savings Certificate – 7.5%
MSSC or FD, in which situation which option is better?
MSSC is also a deposit scheme which has been started especially for women, so that their savings can be encouraged. In this scheme, investment can be started with a minimum of Rs 1000, but the maximum investment limit is fixed. Has been. Women can invest a maximum of Rs 2 lakh in this scheme. In such a situation, if an amount of up to Rs 2 lakh is to be invested, then at present this scheme for women will prove to be better than FD with a tenure of two years. But if the amount to be invested is more than Rs 2 lakh, then you will not be able to invest in MSSC. In this situation you can choose FD or any other option.
Where will the account be opened?
Any woman can open her account under MSSC in post office or authorized banks. For girls below 18 years of age, their parents can open this account. While opening an account, you will have to fill Form-1, along with this you will need KYC documents like Aadhar Card, PAN Card and colorful photo etc. The benefit of this scheme can be availed till the year 2025.
What if money is needed before two years?
If you want to withdraw money from the account before the maturity period, then you get this facility after 1 year. If you need money in between, then after completion of 1 year, you can withdraw up to 40 percent of the deposited money. Can take out.
If the account holder falls seriously ill or dies, the Mahila Samman Savings Patra Scheme account can be closed after six months of opening the account. But in this situation the money is returned by reducing the interest rate by 2%. In such a situation, interest will be given at the rate of 5.5 percent.
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