Mahila Samman Savings Certificate (MSSC):
The Union Minister for Women and Child Development and Minority Affairs opened a Mahila Samman Savings Certificate (MSSC) account recently.
- Mahila Samman Savings Certificate Scheme was announced in the 2023-24 Union Budget to commemorate ‘Azadi Ka Amrit Mahotsav’.
- It is a one-time savings scheme for women.
- Objective is to empower women by increasing their participation in investments.
- It is a significant step towards financial inclusion and empowerment of women including girls.
- The two-year tenure scheme offers an attractive interest rate of 7.5 per cent compounded quarterly
- It will have flexible investment and partial withdrawal options with a maximum ceiling of Rs two lakh.
- The scheme is valid for a two-year period up to 31st March 2025.
- The scheme has been made available in all 1.59 lakh post offices from April 01, 2023.
- One can start investing in this scheme with a minimum amount of Rs. 1,000 or any other amount in multiples of Rs. 100.
- Under this scheme, one can open multiple accounts, but the maximum total investment should be Rs 2 lakh only.
- And each account opened should have a three-month gap between the opening date of the existing account and the new account.
- The scheme is exclusively available to women.
- Any woman above 18 years of age can invest in this scheme by herself.
- In the case of minors, the guardian can open the account on behalf of the girl.
