It is a new Govt. backed small savings scheme, explicitly launched for female investors, announced in Budget 2023 to encourage savings among women.

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The minimum deposit limit is Rs 1000/- and thereafter multiple of Rs 100/-, subject to the maximum deposit limit of Rs.2 lakh.

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Mahila Samman Savings account can be opened by a woman for herself, or by the guardian on behalf of a minor girl.

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Any number of MSSC accounts can be opened by a woman, or in the name of a minor girl by the guardian, subject to the maximum aggregate deposit limit of Rs 2 lakh.

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Mahila Samman Savings Certificate scheme has a fixed interest rate of 7.5% p.a. The interest will be credited quarterly and paid at the time of closure of the account.

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Mahila Samman Savings Certificate shall mature on completion of two years from the date of the deposit.

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No, the Mahila Samman Savings Certificate account can be opened only by a single holder.

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Yes, an account holder can nominate.

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Yes, an account holder can withdraw up to 40% of the account balance after one year from the account opening date.

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The Mahila Samman Savings Certificate account can be closed before maturity in the below mentioned situations:

i.   After six months of opening the account without giving any reason. The account holder will receive interest of 5.5% after a 2% penalty.

ii.  On the death of the account holder.

iii. In the case of exceptional circumstances, such as 

• A life-threatening disease of the account holder.

• Death of the guardian upon production of relevant documents.

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There are no tax benefits on investment in Mahila Samman Savings Certificate.

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 It can be opened in Post Office and authorised banks.

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Rs 40 for physical mode receipt and Rs 9 for e-mode receipt. Additionally, payments will incur a charge of 6.5 paise per Rs 100 turnover.

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The last date for opening an MSSC account is 31st March 2025.

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