Post Office Mahila Samman Savings Certificate, Post Office Sukanya Samriddhi Scheme: Post office investment schemes provide a stable and secure avenue for women to grow their savings. Depending on their financial goals and risk appetite, women can choose from a variety of schemes that suit their needs, whether it’s regular income, long-term savings, or tax benefits.
Post Office Mahila Samman Savings Certificate, Post Office Sukanya Samriddhi Scheme: Did you know that India Post not only offers a wide range of small savings schemes that offer guaranteed returns but also schemes that are meant for specific categories of investors? Post Office Sukanya Samriddhi and Post Office Mahila Samman Savings Certificate (also known as Post Office Mahila Samman Bachat Patra) are two such savings schemes. For the quarter ending June 30, the Sukanya Samriddhi Account pays interest at the rate of 8.2 per cent compounded annually while the Mahila Samman Bachat Patra provides a return of 7.5 per cent compounded quarterly, according to the India Post website – indiapost.gov.in.
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| Instrument | Interest rate for April-June 2024 | Compounding Frequency |
| Mahila Samman Savings Certificate | 7.5% | Quarterly |
| Sukanya Samriddhi Account Scheme | 8.2% | Annually |
While Mahila Samman Savings Certificate is a certificate of deposit (CoD) investment scheme for women depositors for themselves or on behalf of a minor girl child, Sukanya Samriddhi is a savings scheme specially crafted for girl children below 10 years old. Both schemes are unique in several other aspects.
| Sukanya Samriddhi Scheme | Mahila Samman Savings Certificate |
| A guardian opens the account for a girl child below 10; only one account allowed either in a post office or bank | An adult woman can open the account for self or for a minor girl |
| Account can be opened with minimum deposit of Rs 250 | Account can be opened with minimum deposit of Rs 1,000 |
| Multiple investments allowed | One-time investment allowed |
| Minimum deposit: Rs 250 in a financial year | Minimum deposit: Rs 1,000 |
| Minimum deposit: Rs 250 in a financial year | Minimum deposit: Rs 1,000 |
| Maturity: After 21 years from the date of account opening/Time of marriage once the child turns 18 | Maturity: After two years from the date opening |
Post Office Sukanya Samriddhi vs Post Office Mahila Samman Savings Certificate: How money grows in these schemes with examples
A deposit of Rs 1 lakh in a Mahila Samman scheme turns into Rs 1,16,020 in the maturity period of two years.
Investing the same amount in a Sukanya Samriddhi account, on the other hand, for the maximum term of 21 years will grow to Rs 5,23,326, going by the current interest rate.
