Finance Minister Nirmala Sitharaman has not made any new announcement in her budget to pursue the Women’s Honor Saving Certificate (MSSC) scheme specially launched for women. This means that the last date for investing in this scheme has been fixed on 31 March 2025. Women who have not been able to take advantage of this scheme so far have less than a year left to invest.
Why was Mahila Samman Saving Certificate Scheme launched?
The Government of India launched the Women’s Honor Savings Certificate (MSSC) scheme on 31 March 2023 to make women and girls financially empowered. This scheme was implemented for only two years on the occasion of the Amrit Mahotsav of independence.
Special things of this plan:
Higher interest rate: MSSC gets 7.5% annual interest, which is more than two years of FIDD (Fixed Deposit) of banks.
Special for women: This scheme was launched to promote the financial self -reliance of women and girls, especially women and girls.
Safe Investment Options: It is a government guarantee scheme, so there is no risk.
How much money can you invest?
Under the Women’s Honor Saving Certificate Scheme, any woman or girl can invest from ₹ 1,000 to ₹ 2,00,000.
Where can the account be opened?
Post Office
All registered banks
Maturity period:
Proclamation and interest are paid full 2 years after investing in this scheme.
If the account holder needs money after 1 year, he can withdraw up to 40% of the deposit amount.
This scheme is a great option for women who want safe and good returns.
Women’s honor saving certificate rules
In this scheme, investors have to follow some rules:
Rules to close account ahead of time:
- In the event of an account holder’s death or serious medical emergency, the account can be closed prematurely.
- If the account is closed after 6 months for any other reason, the interest rate can be cut.
Tax Rules:
- No tax benefits are yet available on the MSSC scheme.
- However, this is a safe investment option, which can benefit the good interest rate.
Last date for investing 31 March 2025
The government has made it clear that the Women’s Honor Saving Certificate (MSSC) will not be carried forward. Therefore, it is mandatory to invest in this scheme by 31 March 2025.
Why invest in this scheme?
Safety and government guarantee scheme
7.5% attractive interest rate
Benefits of maturity in 2 years
Financial freedom of women promotes
If you have not yet invested in this scheme, then soon open an account by going to your nearest post office or bank and take advantage of this best opportunity!
