Mahila Samman Savings Certificate 2023:
Mahila Samman Savings Certificate (MSSC) 2023 has been notified.
- It is a one-time small savings scheme for women to commemorate celebrations of 75 years of Independence.
- It will be made available for a two-year period up to March 2025.
- It will be under the Ministry of Women and Child Development.
- The small saving certificate will have a fixed interest rate of 7.5% for two years.
- The deposit can be made in the name of a woman or a girl child.
- The maximum deposit amount has been kept at ₹2 lakhs and the scheme will have a partial withdrawal facility as well.
- Application for opening an account under the scheme can be made by a woman for herself or by the guardian on behalf of a minor girl.
- Any number of MSSC accounts can be opened by a woman, or in the name of a minor girl by the guardian, subject to the maximum limit of Rs 2 lakh.
- The Government has notified 7.5% interest on deposits in an MSSC account.
- The interest will be compounded on a quarterly basis and credited to the account.
- The notification said that the deposit shall mature on completion of two years from the date of the deposit.
- The eligible balance may be paid to the account holder on an application in Form-2 submitted to the accounts office on maturity.