Mahila Samman Saving Scheme is a government-backed investment scheme that is exclusively available for women and girl child. These certificates offer guaranteed returns and are an excellent way for women to invest their savings and earn good interest.
FM Nirmala Sitharman has announced a very good saving scheme for women in the 2023 budget called Mahila Samman Savings Scheme. In today’s world, Financial independence and security have become crucial for women.
This scheme is available from 01/04/2023 in all the Post Offices.
Why invest in Mahila Samman Saving Scheme?
Here are seven reasons why Mahila Samman Saving Scheme are the best investment for women and girl child.
High-Interest Rates 7.5%
Mahila Samman Saving Scheme offers higher interest rates compared to other government-backed schemes. The interest rates for these certificates are currently set at 7.5%, which is higher than the rates offered by other popular investment schemes like Fixed Deposits (FDs) and other small saving schemes.
Guaranteed Returns:
Unlike the stock market or other volatile investment options, Mahila Samman Saving Scheme offer guaranteed returns. The principal amount invested, along with the accumulated interest, is paid back to the investor at the end of the maturity period of two years.
Tax Benefits:
Investing in Mahila Samman Saving Scheme may offer tax benefits under Section 80C of the Income Tax Act. This is yet to be finalized.
Flexible Investment Options:
Mahila Samman Saving Scheme offer a wide range of investment options, starting from as low as Rs.1000 and maximum of 200000 (two lacs). Investors can choose the investment amount as per their preference.
Simple account opening process
Investing in Mahila Samman Saving Scheme is simple, and women can open their accounts in any post office in India.
Secure and Reliable:
Mahila Samman Saving Scheme is started by the Government of India and is one of the most reliable options available for women. The principal amount is safe, and investors can be assured of the interest returns along with the capital.
Women Empowerment
Government of India has launched this savings scheme with intent to empower women. The attractiveness of this scheme will ensure that money is invested in the name of women or girl child and will be available for them to use after maturity.
Conclusion
Mahila Samman Saving Scheme is an excellent investment option for women looking to get good returns on investment with high safety. With guaranteed returns, tax benefits (possible), flexible investment options, and easy accessibility, these certificates offer a safe and secure way for women to invest their savings.
FAQs (Frequently Asked Questions?)
What is the rate of interest (interest rate) for Mahila Samman Saving Certificates?
The interest rate for Mahila Samman Saving Certificates is fixed at 7.5%
What is the tenure or term for Mahila Samman Saving Certificates?
The tenure of term for Mahila Samman Saving Certificates is 2 years.
Pre-mature Closure: After six months from account opening, the customer can request for pre-mature account closure. There is a penalty of 2% penalty or at their discretion.
What is the minimum and maximum investment amount for Mahila Samman Saving Certificates?
The minimum investment amount for Mahila Samman Saving Certificates is Rs.1000. The maximum investment in Mahila Samman Saving Certificate is 200000 (two lacs).
How to invest in Mahila Samman Saving Certificates? How to open Mahila Samman scheme/certificate account ?
After the scheme was announce, you can open the Mahila Samman Savings Certificate in nearest post office.
Now there are few banks who also provide Mahila Samman Savings scheme facility. These are
What is the eligibility for opening Mahila Samman Saving Certificate? Who can open Mahila Samman Saving Certificate?
The Mahila Samman Saving Certificate account can be opened by a women or guardian of a minor girl.
What are the documents required to open Mahila Samman Saving Certificates?
You need aaddhar card, pan card for opening the account.
Is Online form available for Mahila Samman Saving Certificate?
You can download the ‘Application for purchasing the certificate.’ from the official Indian Post website.
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