Mahila Samman Savings Scheme Interest Rates: To provide financial security to every girl and woman, the Central Government is running the Mahila Samman Savings Certificate 2023 scheme. Through this scheme, the government gives interest at the rate of 7.5 percent to women investors.
MSSC Scheme: Mahila Samman Savings Certificate is being operated from April 1, 2023 through the Department of Posts. In order to provide financial security to every girl and woman, the Central Government had announced the Mahila Samman Savings Certificate 2023 Scheme in the Union Budget FY 2023-24.
Mahila Samman Savings Letter 2023
Under this scheme, a woman can open an account on her own behalf or on behalf of a minor girl child through a guardian. The highest interest rate of 7.5% per annum is given on this scheme, which will be credited to the account on a quarterly basis. Any account holder can deposit from Rs 1000 to Rs 2,00,000 annually. Mahila Samman Bachat Patra Yojana is available for 2 years till 31 March 2025.
How to open Mahila Samman Savings Account in Post Office
- The applicant has to go to the post office.
- Fill and submit the account opening form.
- Submit the KYC documents (Aadhaar and PAN card) or submit the completed KYC form.
- Deposit the minimum amount or deposit a check to open an account at the nearest post office. After this the account will be opened.
Interest rate on Mahila Samman Savings Letter Scheme
Under this scheme, interest at the rate of 7.5 percent per annum will be applicable on the deposited amount. The interest amount will be credited to the account on quarterly basis.
Payment on maturity
The deposit amount matures after two years from the date of opening the account of Mahila Samman Bachat Patra Yojana. The account holder will then get the eligible balance by submitting an application in Form-2 to the Accounts Office.
Post office charges
Under the Mahila Samman Bachat Patra Yojana, the post office will charge Rs 40 for the receipt in physical mode. Whereas, Rs 9 for electric mode and Rs 6.5 per 100 turnover will be charged.
Mahila Samman Savings Certificate account can also be opened in these banks
Bank of Baroda, Canara Bank, Bank of India, Punjab National Bank allow women investors to open Mahila Samman Savings Account.
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