The Mahila Samman Bachat Patra Yojana (Women’s Savings Certificate Scheme) offers a fixed 7.5% interest rate to support women’s financial growth and independence. Announced by Finance Minister Nirmala Sitharaman in the 2023-24 Budget, the scheme is designed to encourage savings among Indian women and girls.📌 Key Features of the Scheme
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Interest Rate:
- Fixed compound interest rate of 7.5% per annum.
Deposit Limits:
- Minimum: ₹1,000
- Maximum: ₹2,00,000
Tenure:
- 2 years (valid until March 31, 2025).
Withdrawal Option:
- After 1 year, you can withdraw up to 40% of the deposit.
Early Closure:
- Allowed in emergencies:
- After 1 year: 7.5% interest.
- Before 1 year (without a valid reason): 5.5% interest.
🎯 Benefits
- Higher Returns:
- Offers a 7.5% interest rate, higher than many other savings schemes.
- Flexible Investment:
- Deposit in lump sum or small installments.
- Secure Investment:
- Backed by the government, ensuring safety.
- Eligibility for All:
- Open to women and girls of all religions, castes, and classes.
✅ Eligibility Criteria
- Gender:
- Only women or girls can apply.
- Citizenship:
- Must be an Indian citizen.
- Income Limit:
- Family income should not exceed ₹7 lakh per year.
- Minors:
- A guardian is required to open an account for a minor girl.
📄 Required DocumentsAadhar CardIdentity Card (Voter ID, Driving License, etc.)Ration CardPAN CardResidence CertificateCaste Certificate (if applicable)Mobile NumberPassport-size Photograph🏦 Where to Apply
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Post Offices:
- Available at 1.59 lakh post offices nationwide.
Authorized Banks:
- Bank of Baroda
- Canara Bank
- Bank of India
- Punjab National Bank (PNB)
📝 How to ApplyVisit the nearest post office or authorized bank.Collect the application form and fill it out.Submit the required documents along with the form.Deposit the amount via cheque or cash.Receive an acknowledgment receipt for your investment.📅 Important Dates
- Scheme Valid Until: March 31, 2025.
This scheme provides a safe, high-return investment option for women, helping them achieve financial independence and security. Don’t miss out on this opportunity to secure your savings!
