Mahila Samman Saving Certificate Scheme:- The Mahila Samman Saving Certificate Scheme is a government-backed savings program that is designed specifically for women. This scheme offers a number of benefits, including a high rate of interest on savings deposits, flexible investment options, and tax benefits. Women can open an account with as little as Rs. 1000 and can contribute to the account at their convenience. The scheme also offers a range of benefits for women who choose to invest in it, including access to credit facilities, insurance coverage, and other financial services. If you are looking for a safe and reliable way to save money, the Mahila Samman Saving Certificate Scheme may be just what you need. With its attractive interest rates and flexible investment options.
The Mahila Samman Saving Certificate Scheme is a government-backed initiative aimed at empowering women through financial independence. Under this scheme, women can invest in fixed deposits for a period of 5 years and earn an attractive rate of interest. The minimum investment amount for the scheme is Rs. 1000, making it accessible to women from all walks of life. In addition to earning interest, women who invest in the scheme also receive tax benefits under section 80C of the Income Tax Act. The scheme is a great way for women to save money and grow their wealth while also contributing to their financial security. For more information on how to enroll in the Mahila Samman Saving Certificate Scheme, interested parties can visit their nearest post office or bank branch.
Mahila Samman Saving Certificate Scheme
The Mahila Samman Saving Certificate Scheme is a government-backed program in India designed to promote financial inclusion and empowerment for women. Under this scheme, women can invest their savings in a secure and reliable manner, with the added benefit of earning interest on their investment. This scheme is particularly beneficial for women from rural areas who may not have access to traditional banking services. It offers a safe and convenient way for them to save money and plan for their future financial needs. The Mahila Samman Saving Certificate Scheme is an excellent opportunity for women to take control of their finances and secure a better future for themselves and their families.
Mahila Samman Saving Certificate Scheme is a government-backed savings program aimed at empowering women in India. Under this scheme, women can invest and save money over a period of time and earn interest on their investment. The scheme is designed to provide financial security to women, especially those from low-income households. The minimum investment amount is Rs. 1000, and the maximum investment amount is Rs. 1.5 lakh per annum. The Mahila Samman Saving Certificate Scheme interest rate for the scheme varies depending on the duration of the investment, with longer-term investments earning higher interest rates. This scheme provides an excellent opportunity for women to save money and secure their financial future. If you are interested in learning more about this scheme or would like to open an account.
Mahila Samman Saving Certificate Scheme Details
Name of The Article | Mahila Samman Saving Certificate Scheme |
Category | Govt Schemes |
Year | 2024 |
Official Website | Click Here |
Check Also:-Kerala SSLC Time Table
Mahila Samman Saving Certificate Scheme Vs Other Small Savings Schemes
The Mahila Samman Saving Certificate Scheme is a government-backed savings scheme that aims to empower women and provide them with financial security. This scheme is specifically designed for women and offers attractive interest rates, making it a great way to save money over the long term. In addition to helping women save money, the scheme also provides tax benefits, making it a smart choice for those looking to reduce their tax burden. To participate in the scheme, women can visit any designated bank or post office and open an account with a minimum deposit of Rs. 1000.
The scheme has a maturity period of 5 years and offers competitive interest rates that are reviewed quarterly by the government. Overall, the Mahila Samman Saving Certificate Scheme is a fantastic option for women who want to take control of their finances and secure their future. The government has established numerous individual investment tools in the form of small savings plans. Public Provident Fund (PPF), National Savings Certificate (NSC), Senior Citizens Small Savings Scheme (SCSS), and Sukanya Samriddhi Yojana (SSY) are popular savings programs. Let’s compare the Mahila Samman Savings Certificate to other small savings programs.
PPF Vs Mahila Samman Savings Certificate
Particulars | Mahila Samman Savings Certificate | PPF |
Eligibility | Women and girl children | Any individual Indian citizen |
Interest Rate | 7.5% | 7.1% |
Tenure | 2 years | 15 years |
Deposit Limit | Minimum – Rs.1,000 Maximum – Rs.2 lakh | Minimum – Rs.500 Maximum – Rs 1.5 lakh |
Premature Withdrawal | Permits 40% withdrawal after one year | Permits partial withdrawal after 7 years |
Tax Benefit | Not yet specified | Exempt-Exempt-Exempt (EEE) category under Section 80C category |
NSC Vs Mahila Samman Savings Certificate
Particulars | Mahila Samman Savings Certificate | NSC |
Eligibility | Women and girl children | Any individual, including NRIs |
Interest Rate | 7.5% | 7.7% |
Tenure | 2 years | 5 years |
Deposit Limit | Minimum – Rs.1,000 Maximum – Rs.2 lakh | Minimum – Rs.100 Maximum – No limit |
Premature Withdrawal | Permits 40% withdrawal after one year | Allowed in certain circumstances |
Tax Benefit | Not yet specified | Deductions of up to Rs.1.5 lakh under Section 80C |
SCSS Vs Mahila Samman Savings Certificate
Particulars | Mahila Samman Savings Certificate | SCSS |
Eligibility | Women and girl children | Senior citizens aged above 60 years |
Interest Rate | 7.5% | 8.2% |
Tenure | 2 years | 5 years |
Deposit Limit | Minimum – Rs.1,000 Maximum – Rs.2 lakh | Minimum – Rs.1,000 Maximum – Rs.30 lakh |
Premature Withdrawal | Permits 40% withdrawal after one year | Can be closed at any time |
Tax Benefit | Not yet specified | Deductions of up to Rs.1.5 lakh under Section 80C |
Read Also:- Rajasthan Free Laptop Yojana
SSY Vs Mahila Samman Savings Certificate
Particulars | Mahila Samman Savings Certificate | SSY |
Eligibility | Women and girl children | Only in the name of a girl child before she attains 10 years |
Interest Rate | 7.5% | 8.0% |
Tenure | 2 years | 21 years from opening the account or when the girl child attains 18 years |
Deposit Limit | Minimum – Rs.1,000 Maximum – Rs.2 lakh | Minimum – Rs.250 Maximum – Rs.1.5 lakh |
Premature Withdrawal | Permits 40% withdrawal after one year | Allowed under certain circumstances |
Tax Benefit | Not yet specified | Exempt-Exempt-Exempt (EEE) category under Section 80C category |
Mahila Samman Saving Certificate | Details |
Interest Rates | 7.50% p.a. |
Minimum Investment Amount | Rs. 1000/- |
Maximum Investment Amount | Rs. 2.00,000/- |
Investment Tenure | 2 year |
Partial Withdrawal | 40% of the Corpus |
How to Check Mahila Samman Saving Certificate Scheme Online?
Women and guardians of a girl child can open a Mahila Samman Savings Certificate scheme by following the below steps.
- Login the ‘Application for purchasing the certificate’ from the official Indian Post website. You can also visit the close Post Office branch and get the form.
- Fill out the Post Office address under the ‘To The Postmaster’ section.
- Fill in your name in the specified space and mention the account as ‘Mahila Samman Savings Certificate’.
- Fill out the account type, payment & personal details.
- Fill out the declaration and nomination particular.
- Submit the form with the required paper.
- Make the down payment in the Post Office through cash or Cheque.
- Receive the certificate that serves as proof of investing in the Mahila Samman Savings Certificate scheme.
Can Check:- Nadakacheri CV Apply Online
Features of Mahila Samman Savings Certificate
The following are the features of the Mahila Samman Savings Proof.
- Guaranteed Returns– The plan is backed by the Government of India, and thus the returns are guaranteed.
- Interest Rate– 7.50% p.a.
- Eligibility: Only women are eligible to invest in the plan.
- Minimum Investment Amount– INR 1,000 & in multiples of INR 100 thereafter.
- Maximum Investment Amount– INR 2,00,000
- Number of Accounts– A woman or guardian of a minor girl child can open a 2nd account with a minimum gap of three months.
- Tenure: 2 years. The interest will be paid upon maturity of the plan.
- Partial Withdrawals- Available. Depositors can withdraw up to 40% of the corpus amount after 1 year from the date of account hole.
- Premature Closure– The account cannot be prematurely closed. under certain conditions premature closure facility is at hand.
Documents Required for Mahila Samman Saving Certificate Scheme Account
- Application form
- KYC documents, such as an Aadhaar card, Voter ID, driving license and PAN card
- KYC form for new account holders
- Pay-in-Slip
Mahila Samman Saving Certificate Scheme : Conclusion
In this conclusion, The Mahila Samman Saving Certificate Scheme is a government-backed savings program designed specifically for women. This scheme was launched with the goal of empowering women by providing them with a safe and secure way to save money. The scheme offers attractive interest rates and allows women to invest in small amounts, making it accessible to women from all walks of life. This program is an excellent choice for women who are looking to save for their future or for the education of their children. In addition, the Mahila Samman Saving Certificate Scheme also offers tax benefits, making it a smart investment option for women who want to grow their wealth while also securing their financial future. Overall, this scheme is an excellent opportunity for women to take control of their finances and achieve their long-term financial goals.
Related Post:-