Mahila Samman Savings Certificate Calculator
Government of India introduced a new scheme “Mahila Samman Savings Certificate 2023”, this scheme can be opened for an individual girl or woman in whose name the account is held. On an application to the post office in the prescribed form, a Single Holder Type Account may be opened on or before 31.03.2025 by a woman for herself, or by the guardian on behalf of a minor girl.
Table of Contents
- A minimum of one thousand rupees and any sum in multiples of one hundred rupees may be deposited in an account. Thereafter, no subsequent deposit shall be allowed in the account.
- There shall be a maximum limit for deposit of Rs. Two lakh in an account or in all accounts under this scheme held by an account holder.
- An individual may open any number of accounts in the scheme subject to the maximum limit for deposit Rs. 2 Lakh and a time gap of three months between the existing account and the opening of another account. For example, an account holder who opened an account on 05.04.2023 with an amount Rs. 50,000, can open another account on or after 05.07.2023 with balance amount Rs. 1.50 lakh or part thereof.
Interest Rate for Mahila Samman Savings Certificate
- The rate of interest applicable to the deposits under this scheme is 7.5 per cent per annum. The interest shall be compounded on quarterly basis and credited to the account.
- Post Office Savings Account interest shall be payable on an account opened or maintained, in contravention of this scheme.
Payment on Maturity
The account shall mature on completion of two years from the date of the account opening. Eligible Balance may be paid to the account holder on an application in Form-2 submitted to the post office concerned on maturity.
Mahila Samman Saving Certificate Calculator
Calculate the estimated Maturity Value and Interest of a deposit made under the Mahila Samman Savings Certificate scheme (MSSC)
Download the MSSC Excel Calculator and find the maturity amount