Post Office Scheme- You can get good returns by investing in this small scheme, let's know the complete details.

If you are a salaried person, then you should invest a part of your earnings in a place where you get good returns, many such schemes in the market give good returns, but they cannot be trusted just like that, but friends, the small savings schemes of the post office are especially noteworthy. Today we will learn about one such scheme through this article-

Introduction to Mahila Samman Savings Certificate

Launched by the Central Government in 2023, the Mahila Samman Savings Certificate is specially designed for women and offers a unique investment opportunity with a maturity period of just two years.

High interest rate: This scheme offers an attractive interest rate of 7.5%, which is much higher than many other investment options.

Investment flexibility: You can invest a maximum of ₹ 2 lakh in this scheme. Notably, women are allowed to open multiple accounts in their name, thereby maximizing their investment potential.

Tax benefits: This scheme is exempt from TDS (tax deduction at source). For senior citizens, TDS is applicable only if the interest income exceeds ₹40,000 to ₹50,000 in a financial year, which makes it even more attractive.

Eligibility: This scheme is open to all Indian resident women, including girls from the age of 10. This inclusiveness makes it a versatile option for different age groups.

How it works

To make the most of this scheme, all you need to do is invest through your local post office. If you invest the maximum allowed amount of ₹2 lakh, after two years you can expect the following:

Interest income: ₹32,044

Total amount on maturity: ₹2,32,044

Documents required

To open an account, you need to provide the following:

Aadhaar card
PAN card
KYC documents
A cheque for the investment amount