The Central Government launched the Mahila Samman Savings Certificate Scheme in the year 2023 to save women and make them financially strong, which has also received a lot of support from women. This scheme is invested for only two years. In this scheme, an account is opened under the post office. This scheme of the Central Government is available for one time only, it will continue from April 2023 to March 2025.
This scheme is also available in these banks
The Ministry of Finance authorized all public sector banks and eligible private sector banks to adopt and operate the Mahila Samman Savings Certificate, 2023 through an e-gazette announcement on 27 June 2023. Apart from India Post, this scheme is run by only a few banks. These include Bank of Baroda, Canara Bank, Bank of India, PNB and Union Bank of India.
How much can you invest?
Any woman above 18 years of age can invest a minimum of INR 1000 and a maximum of INR 2 lakh in the Mahila Samman Savings Certificate Scheme. Investment is made in multiples of 100 in this scheme. Any woman can open multiple accounts under this scheme, although the amount to be deposited under the scheme should not exceed INR 2 lakh. Apart from this, there should be a gap of at least three months between one account and another.
7.5 percent interest
The government offers 7.5 percent interest rate on this scheme. Interest is transferred to the account every three months. However, interest will be paid at the time of closing/pre-closing/partial withdrawal of the account.
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These documents will be required
Under this scheme, you can open it by going to your nearest post office or any branch of the banks mentioned above. While opening the account, you will have to provide information about PAN card, Aadhaar card, photo and the amount you want to invest. After this, you will get a certificate from the post office, which should be kept safely for two years.