Last updated on April 4th, 2023 at 06:11 pm
Mahila Samman Saving Certificate Scheme is launched by Government of India in 2023 Union Budget. Know the all MSSC Scheme Details.
Mahila Samman Saving Certificate Scheme also known as Mahila Bachat Patra Yojna and MSSC. Scheme is launched to empower Womens of India.
Mahila Samman Saving Certificate Scheme Details
- Maximum 2 Lakh investment
- 7.5% Fixed Returns
- Only For 2 Years
- Partial Withdrawal allowed
- Only Women or Girl child can invest
You can invest up to ₹2,00,000 in this scheme with 7.5% fixed interest rate. This scheme is only for Upto two years and can be open on the name of women or girl.
Eligibility
This investment can be done only on the name of women or girl child, not man.
Interest Rate
The scheme is come with 7.5% fixed interest rate. 7.5% is higher than any bank FD and other exciting schemes.
Investment Amount & Tenure
A woman or girl child can invest up to ₹2,00,000 In this scheme. Partial withdrawal are allowed are under Mahila Bachat Patra Yojna and You can invest only for 2 years.
Benefits
This scheme is eligible for tax benefits under section 80C but tax structure is not clarifies by govt. We will update in this post, when available. MSSC is also backed by Central Govt of India.
Returns
What are the returns if you invest in this scheme? Suppose, you invest 2,00,000 for 2 years with 7.5% returns, by assuming quarterly compound, you will get 2,32,044 maturity value and 32,044 interest.
Try our MSSC Calculator to check returns on this scheme.
How To Apply In Mahila Samman Saving Certificate Scheme
The woman or girl can invest in this scheme by opening a bank account in state or central government owned bank. Here are steps:
- Visit the nearest govt bank of post office bank to get Mahila Samman Bachat Patra Yojna Form.
- Fill the MSSC form by all details.
- Submit the form to bank with all demanded documents.
- Choose your deposit amount and complete the steps.
After that, bank will provide you a certificate for the proof of investment.
MSSC Vs SSY
| Particulars | MSSC | SSY |
|---|---|---|
| Eligibility | A women or girl child | A girl child before age 10 |
| Interest Rate | 7.5% | 7.6% |
| Time | Max 2 years | 21 years or when the girl becomes 18 years old |
| Deposit Limit | Max 2 lakh | Minimum 250 Maximum 1,50,000 |
| Withdrawal | Allowed | Allowed with conditions |
| Tax Benefit | Section 80C but not yet specified | Section 80C |