The central government offers a variety of schemes to support the financial well-being of citizens, including specialized plans for women and senior citizens. Many of these schemes are managed through the Post Office, providing secure investment options with tax benefits, monthly income, and guaranteed returns. One standout scheme is the Mahila Samman Saving Certificate, designed to offer substantial returns in just two years. Here’s everything you need to know.
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What is the Mahila Samman Saving Certificate Scheme ?
The Mahila Samman Saving Certificate Scheme was launched by the government to empower women by offering them a reliable savings option. Under this scheme, you can invest anywhere from ₹1,000 to ₹2 lakh. The deposit must be made in multiples of ₹100. While you can open multiple accounts, the total amount across all accounts should not exceed ₹2 lakh. Additionally, there must be a three-month gap between the opening of any two accounts under this scheme.
How Much Interest Will You Earn?
This scheme offers an attractive interest rate of 7.5% per annum, with interest credited quarterly. The scheme has a maturity period of just two years, providing a quick return on investment. Additionally, you can withdraw up to 40% of the invested amount after one year, with partial withdrawal allowed only once before maturity.
Earn ₹2.32 Lakh on Maturity
If you invest the maximum amount of ₹2 lakh in this scheme, you will earn ₹32,044 in interest over two years, bringing your total maturity amount to ₹2,32,044.
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Terms and Conditions
In the unfortunate event of the account holder’s death, the nominee or family members can withdraw the deposited amount. In cases of life-threatening illnesses, funds can be withdrawn for medical treatment, and the account can be closed after six months of opening, albeit with a 2% reduction in the interest rate.
The Mahila Samman Saving Certificate Scheme is a promising investment opportunity for women looking to grow their savings securely and swiftly.
