The scheme āMahila Samman Savings Certificateā was launched by the Department of Economic Affairs, Ministry of Finance to provide financial security to every girl and woman in Indi...
Department: · Level: central
1. The scheme provides attractive and secure investment options to all girls and women. 1. The scheme offers an attractive and fixed interest of 7.5% interest compounded quarterly with flexible investment and partial withdrawal options with a maximum ceiling of ā¹2,00,000/-. 1. The tenure of the scheme is two years. 1. Interest shall be compounded on a quarterly basis and credited to the account. **Note:** The interest payable to the account holder in respect of any account opened or deposit made which is not in consonance with the provisions of this Scheme shall be payable at the rate applicable to the Post Office Savings Account.
1. The applicants must have Indian citizenship. 2. This scheme is only for women and girl children. 3. Any Individual Woman can apply under the scheme. 4. The minor account can also be opened by the guardian. 5. There is no upper age limit and women of all ages can avail the benefits of this scheme. **Note:** An account opened under this Scheme shall be a single-holder type account. > **Deposits:** - An individual may open any number of accounts subject to the maximum limit for deposit and a time gap of three months shall be maintained between the existing account and the opening of other accounts. - A minimum of ā¹1000/- and any sum in multiples of one hundred rupees may be deposited in an account and no subsequent deposit shall be allowed in that account. - A maximum limit of ā¹2,00,000/- shall be deposited in an account or accounts held by an account holder. > **Payment on maturity:** - The deposit shall mature on completion of two years from the date of the deposit and the Eligible Balance may be paid to the account holder on maturity. - In calculating the maturity value, any amount in fraction of a rupee shall be rounded off to the nearest rupee, and for thi...
**Offline** > **Application process:** **Step 01:** The applicant can visit the nearest Post Office Branch or a designated bank. **Step 02:** Collect the applicant form or [download](https://www.indiapost.gov.in/VAS/DOP_PDFFiles/MSSC/Mahila_Samman_Savings_Certificate_2023_English.pdf) it from the [official website](https://dea.gov.in/). **Step 03:** Fill out the application form and attach all the required documents. **Step 04:** Fill out the declaration and nomination details. **Step 05:** Submit the application form with the initial amount of investment/deposit. **Step 06:** Receive the certificate that serves as proof of investment in the āMahila Samman Savings Certificateā scheme. **Note:** An application for opening an account under this Scheme shall be made by a woman for herself, or by the guardian on behalf of a minor girl on or before March 31, 2025. > **Premature closure of account:** 1. The account shall not be closed before maturity except in the following cases, namely:- ā¢ on the death of the account holder; ā¢ where the post office or the Bank concerned is satisfied, in cases of extreme compassionate grounds such as medical support in life-threatening diseases...