The Mahila Samman Savings Certificate is a financial safety net for women and girls in India. It was initiated by the government and is aimed at ensuring they invest their money, hoping to get a good return on their investments.
What is the Mahila Samman savings certificate scheme?
This scheme can be regarded as a special savings plan designed specifically for women. It has been operational since the 1st of April 2023, and you can invest for as low as Rs. 1,000 with the possibility to save as much as Rs. 2 lakh. Your funds are committed for two years with an expected interest rate which is predetermined in advance. This scheme is effective till March 31, 2025.
Which banks are using the Mahila Samman Savings Certificate?
The MSSC scheme is operational in several banks across India. Authorized by an e-gazette notification on June 27, 2023, the following banks are among those offering the scheme:
Bank of Baroda
Canara Bank
Bank of India
Punjab National Bank
Union Bank of India
Central Bank of India
Can I open multiple Mahila Samman Savings Certificate?
Yes, you can! If you have already signed up with one account, you can again sign up with a new account after three months. It is this level of flexibility that enables you to be in control of your savings in a manner most convenient to you.
Mahila Samman savings certificate Interest rate
Here’s the cherry on top: this savings scheme gives you a sound 7. 5% interest per year. It can be compared to having your money working hard to earn you even more.
To sum up, the Mahila Samman Savings Certificate is an intelligent, secure, and easy solution that empowers women, enabling them to actively increase their savings and build a better financial future.
Set her up for a brighter future with the Mahila Samman Savings Certificate. It’s a smart and easy way for women to save money and watch it grow. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
