Mahila Samman Saving Certificate Scheme

Introduction

• Mahila Samman Saving Certificate Scheme is an important scheme of the government for women and girls.
• It has been started from the year 2023.
• Mahila Samman Saving Certificate Scheme was announced by Honorable Finance Minister Smt. Nirmala Sitharaman while presenting the budget of 2023-2024 on 1st February.
• The objective of starting Mahila Samman Saving Certificate Scheme is to make women and girls financially empowered.
• This is a Small Saving Scheme.
• Under Mahila Samman Saving Certificate Scheme, beneficiaries can deposit up to Rs 2 Lakh in their bank account.
• In lieu of this, interest at the rate of 7.50 percent will be given to the beneficiary.
• This is the highest ever interest rate offered on a savings scheme.
• Beneficiaries will not be able to deposit an amount of more than Rs 2 lakh under Mahila Samman Saving Certificate Scheme.
• This amount will be kept in the accounts of Mahila Samman Saving Certificate Scheme only for 2 years.
• Beneficiaries can withdraw this amount even before the completion of 2 years.
• Mahila Samman Saving Certificate Scheme will expire on 31 March 2025.
• However, the government has full right to extend the scheme.
• Eligible Beneficiaries can apply for this scheme at their nearest post office.

Benefits of the Scheme

• Under Mahila Samman Saving Certificate Scheme, the following benefits will be given to the beneficiaries :-
  • Interest rate of 7.50 percent on deposits.
  • Maximum deposit limit up to Rs. 2 Lakh.
  • Deposit is only for a maximum period of 2 years.
  • Beneficiary can withdraw the amount anytime before 2 years.

Eligibility Criteria

• The Applicant must be Women or a Girl.

Documents Required

• The following documents is needed at the time of opening of account under Mahila Samman Saving Certificate Scheme :-
  • Aadhar Card.
  • PAN Card.

How to Apply

• Eligible Women or Girl can apply for Mahila Samman Saving Certificate Scheme in their nearest Post Office.
• Take a Mahila Samman Saving Certificate Scheme Application Form and fill it properly.
• Attach all the required documents.
• Submit it in the Post Office and Start Depositing the Amount.

Important Links

• Mahila Samman Saving Certificate Scheme Guidelines.