WHAT IS MAHILA SAMRIDDHI YOJANA
In India, there is a savings scheme called the "Mahila Samriddhi Yojana" or "Mahila Samman Saving Certificate" that is specially designed for women. A women individually can open a account in mahila samman saving certificate.
The Mahila Samriddhi Yojana is a india post office savings scheme. It aims to promote women to save and provide them with financial security. You can also open "Mahila Samriddhi Yojana" account in Bank Of India one of the largest public sector banks in India you can visit in your nearest branch to open account.
HERE ARE 6 POINTS ABOUT THE SCHEME:
1. Eligibility:
- The scheme is open to individual women residents of India above 18 years of age.
- Joint accounts are not permitted.
a guardian can open n account on behalf of under age girl.
2. Account Opening:
- You can opened an account with a minimum deposit of Rs. 1,000 and deposit upto Rs. 200000 can be made in multiples of Rs. 100.
- The maximum limit for investment is Rs. 1,50,000 in a financial year.
3. Tenure and Interest Rate:
- The maturity period of Mahila Samriddhi Yojana is 5 years.
- The interest rate is fixed and set by the government. The interest rate was 7.5% per annum.
4. Tax Benefits:
- Investments made under the Mahila Samriddhi Yojana are eligible for tax benefits under Section 80C of the Income Tax Act, up to a specified limit.
- Interest earned on the scheme is taxable.
5. Withdrawal and Premature Closure:
- The scheme has a lock-in period of 5 years, and premature withdrawals are generally not allowed before the completion of this period.
- In case of the account holder's death, the account can be closed prematurely and the maturity amount, along with interest till the preceding month, will be paid to the nominee/legal person.
6. Nomination Facility:
- The scheme provides the option to nominate one or more persons to receive the maturity amount in case of the account holder's death.
It's important to note that the Mahila Samriddhi Yojana is a savings scheme specifically for women. However, there are other savings and investment options available in India.
For specific details and the most up-to-date information regarding the Mahila Samriddhi Yojana, it is advisable to visit the official website of the Department of Posts or contact your nearest post office or financial institution.
HERE YOU CAN FIND MAHILA SAMRIDDHI YOJANA SCHEMES AND OTHER SCHEMES:
https://www.indiapost.gov.in/Financial/pages/content/post-office-saving-schemes.aspx
FAQ
1.What is Mahila Samman Savings Scheme 2023?
MSSC, 2023 is the flagship small savings scheme released by the Ministry of Finance in the budget of February 2023, in which women and adolescent girls can invest. Under this scheme, any woman and girl child can open their account, or for a minor girl, an account can be opened on behalf of her guardian.
