Mahila Samman Savings Certificate: This government scheme is great for women, know the deadline to invest..

Mahila Samman Savings Certificate (MSSC) was announced in Budget 2023. It is a small savings certificate offered by the Government of India to women investors. The scheme has been launched to provide economic empowerment to women and girls through investment. The scheme is designed to give good returns to women in a short time and the government is going to continue it till 2025.

Was MSSC extended in Budget 2024?
No, no announcement was made on the Mahila Samman Savings Certificate in Budget 2024. At present, the interest rate and investment time frame will remain the same as before. Note that the Mahila Samman Savings Certificate is a one-time scheme available for 2 years from April 2023 to March 2025. The account can be opened at any post office. However, some banks are also providing the facility to open this account with them.

Who can open an account?
Any Indian woman of any age can open an account under this scheme. Apart from this, male guardians can also open an account for their minor daughter. This scheme also provides an opportunity for minor girls to invest in financial products.

7.5 percent interest
Mahila Samman Saving Certificate gets 7.5 percent interest annually, which is added to the account every quarter, but interest and principal are available only on maturity. The maturity period of this scheme is 2 years. If you invest Rs 2 lakh in this scheme for 2 years, then you will get Rs 2.32 lakh on maturity.

Investment limit
A minimum of Rs 1000 can be invested in this scheme for the entire 2 years. The maximum investment limit is Rs 2 lakh per account. More than Rs 1000 can be deposited only in multiples of 100. Up to 40 percent of the total deposited amount can be withdrawn after 1 year of opening the account.