The Mahila Samman Savings Certificate Scheme 2024 is a great opportunity for women in India to save money. The Government of India started this scheme to help women save more and build a habit of saving. Through the Mahila Samman Savings Certificate Scheme 2024, women can open their own savings account. This account gives them a higher interest rate compared to regular savings accounts.
The maturity period of these savings accounts is 2 years. This means that after 2 years, women can take out their money with interest. Only women who are citizens of India can take part in the Mahila Samman Savings Certificate Scheme 2024. To benefit from this scheme, all interested women need to check if they meet the eligibility criteria.
If they are eligible, they must fill out the application form to start saving. This scheme is a great way for women to secure their financial future and encourage their friends and family to save too!
About Mahila Samman Scheme
The scheme started by India’s finance minister, Mrs. Nirmala Sitaraman, is all about giving financial security to all the women in our country. This scheme is super cool because it offers a high interest rate of 7.5% per year, which is more than many other schemes. This means women can save more money for their future!
One great thing about this scheme is it encourages saving habits among women. When women save money, it can really help them in tough times later on. So, this scheme is a good step toward making women financially independent.
In this scheme, women can deposit up to INR 2 lakh, which is the maximum limit. But they can also start saving with just INR 1000, which is the minimum deposit. This makes it easy for everyone to join.
Summary of Mahila Samman Savings Certificate Scheme
| Name of the scheme | Mahila Samman Savings Certificate Scheme |
| Introduced by | Government of India |
| Objective | Provide saving account |
| Beneficiaries | Female citizens of India |
| Official website | Update Soon |
Eligibility Criteria
- The applicants must be a permanent resident of India.
- The applicant must be a female citizen.
Benefits of the Mahila Samman Savings Certificate Scheme
- The Government of India launched the Mahila Samman Savings Certificate Scheme to encourage the female citizen to do more saving.
- The applicants can deposit an amount under INR 2 lakh which will eventually help them in the future.
- The interest rate under the scheme is relatively higher than any other interest in any Saving Scheme.
- The maturity period under the scheme is only 2 years.
- The applicants can also deposit a minimum amount of INR 1000 under the Saving Scheme.
Also Read: Udyogini Scheme for Women Entrepreneurs
Interest Rate
- The interest rate under the Mahila Samman Savings Certificate Scheme 2024 is 7.5% per annum.
Deposit Limit and Maturity Period
- The maximum deposit limit under the Mahila Samman Savings Certificate Scheme 2024 is INR 2 lakh.
- The minimum deposit under the Mahila Samman Savings Certificate Scheme 2024 is INR 1000.
- The maturity period under the Mahila Samman Savings Certificate Scheme 2024 is 2 years.
Tax Benefits
- Tax Deducted at Source (TDS) is not deducted from the interest received under the Mahila Samman Savings Certificate Scheme 2024.
List of Banks
- Bank of Baroda
- Canara Bank
- Bank of India
- Punjab National Bank
- Union Bank of India
- Central Bank of India
Required Documents
- Aadhar Card
- Email ID
- Mobile Number
- Address Proof
- PAN Card
- Income certificate
How to Open Mahila Samman Savings Certificate Account in the Post Office
STEP 1: All the applicants who want to Open a Mahila Samman Savings Certificate Account in the Post Office can visit the nearest post office.
STEP 2: Once the applicant visits the nearest post office the applicant must get the application form from the concerned official.
STEP 3: The applicant must start filling out the application form and enter all the details that are asked and attach all the necessary documents.
STEP 4: After entering all the details the applicant must review it and submit the application form back to the official.
STEP 5: Now the applicant must pay the deposit in cash or check form to the concerned official to complete their process.
How to Open a Mahila Samman Savings Certificate Account in a Bank
STEP 1: All the applicants who want to open a Mahila Samman Savings Certificate Account in the Bank can visit the nearest bank branch.
STEP 2: Once the applicant visits the nearest bank branch the applicant must get the application form from the concerned official.
STEP 3: The applicant must start filling out the application form and enter account type, payment, personal details, declaration, and nomination details.
STEP 4: After entering all the details the applicant must review it and submit the application form back to the official.
STEP 5: Now the applicant must pay the deposit in cash or check form to the concerned official to complete their process.
Premature Closure
- The premature closer is only available in the following cases:-
- On the death of the account holder.
- Medical support in case of life-threatening disease of the account holder.
- Death of the guardian resulting in undue hardship in the operation or continuation of the account.
- For the above categories of pre-closures, interest on the principal amount shall be payable at the prescribed rate of interest for the scheme.
- Interest in case of such pre-mature closures shall be payable at a lower by 2% than the prescribed Rate of Interest for the scheme.
FAQs
Who is eligible to avail of the benefits of the Mahila Samman Savings Certificate Scheme 2024?
All the female citizens of India regardless of age are eligible to avail the benefits of the Mahila Samman Savings Certificate Scheme 2024.
What is the maximum amount to be deposited under the Mahila Samman Savings Certificate Scheme 2024?
The maximum amount of INR 2 lakh will be deposited under the Mahila Samman Savings Certificate Scheme 2024.
What is the interest rate under the Mahila Samman Savings Certificate Scheme 2024?
The interest rate of 7.5% per annum is available under the Mahila Samman Savings Certificate Scheme 2024.