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Mahila Samman Bachat Prasar Patra (MSSC) Scheme is a special savings scheme created by the Government of India for women. It aims to provide financial freedom and security to women. Under this scheme, women can easily save and invest money. It also includes attractive interest rates and tax benefits, making this scheme an excellent option for women.
The objective of the Scheme
The Mahila Samman Savings Certificate (MSSC) scheme has been specially designed for women. Its purpose is to encourage women to save and invest.
Investment period
You can invest in this scheme till March 2025. The investment period is two years.
Amount of investment
A woman can invest a maximum of Rs 2 lakh in this scheme. A minimum of Rs 1,000 needs to be deposited in an account.
rate of interest
The rate of interest on this scheme is 7.5 percent. The interest is compounded every quarter.
Interest and Maturity
If a woman invests Rs 2 lakh, she will get a total interest of Rs 32,044 after 2 years. The total amount on maturity will be Rs 2,32,044.
withdrawal rule
After one year of investment, the woman can withdraw 40 percent of the amount. If someone closes the account before time, he will get interest at the rate of 5.5 percent.
tax benefit
By investing in this scheme, you get tax exemption under section 80C of Income Tax. This benefit helps financially.
Nominee provision
If the account holder dies, the nominee can claim the deposited amount. This is an important protection.
Account opening process
To avail of the Mahila Samman Savings Certificate, you have to go to the nearest post office or bank. There you will have to fill out a form. After this, you will be given a certificate.
Security of certificate
You will have to keep this certificate safe for 2 years.
Multiple accounts
More than one account can be opened under this scheme. However the second account can be opened only after three months of opening the first account.
Total Deposit Amount
The total deposits in all the accounts of a person cannot exceed Rs 2 lakh.
Simple investment process
This scheme simplifies the process of investing for women. Women can easily secure and grow their money.
It is worth noting that the Mahila Samman Savings Certificate Scheme is a good opportunity for women. It helps them move towards financial independence. By taking advantage of this scheme, women can strengthen their future financial status.
