Women and guardians of minor girls can open an account with the Mahila Samman Savings Scheme, senior citizens are eligible for the Senior Citizen Savings Scheme.
The Government of India has introduced several saving schemes for people from all age groups to provide them with sufficient financial support in time of need. Among them, two of the most popular and common savings schemes include the Senior Citizen Savings Scheme (SCSS) and the Mahila Samman Savings Certificate (MSSC) Scheme.
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The schemes are especially launched for senior citizens and women and girls respectively in the country. While the Mahila Samman Savings Certificate Scheme is a small savings scheme aimed to help women and girls in India to promote financial inclusion and empower them, the Senior Citizen Savings Scheme is a retirement benefit plan that empowers them to invest a lump sum amount to receive a regular income after attaining the age of 60.
Women and guardians of minor girls are eligible to open a MSSC account, while those who have attained a minimum age of 55 can open a SCSS account.
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While the features, benefits, and eligibility criteria for both schemes are different, the process of opening the accounts for the Mahila Samman Savings Scheme and SCSS for both offline and online modes is different.
Scroll down to learn the steps to open Mahila Samman Savings Scheme and SCSS accounts online.
How to open Mahila Samman Savings Scheme and SCSS accounts online?
Earlier, there were no provisions in banks or post offices to open online accounts for the Mahila Samman Savings Scheme and Senior Citizen Savings Scheme. However, it seems this is now possible.
According to the Department of Post, as stated in its latest circular, investors can open an SCSS or MSSC account through the department’s online banking facility.
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Check the steps here:
- Go to the DOP Internet Banking of Post Office Savings Account Customers
- Click on the ‘General Services’ tab on the homepage.
- Select the ‘Service Requests’ option.
- Next, click on the ‘New Requests’ option and select ‘OK’.
- Next, click on ‘SCSS Accounts – Open a SCSS Account’ or ‘MSSC Accounts – Open a MSSC Account’
- Now, enter your deposit amount as prescribed in the scheme rules and select the debit account or the linked Post Office Saving Account.
- Put in the transaction remarks if necessary and select the check box to agree to all the terms and conditions.
- Next, click on submit online and enter the remark if any additional detail is required.
- Lastly, enter the ‘Transaction Password’ and click on Submit.
The SCSS or MSSC account will be opened if all the conditions are fulfilled.
