Our Indian government has introduced the Mahila Samman Savings Certificate (MSSC). This is made to support women and girl children financially. This government-backed scheme offers safe and fixed returns compounded quarterly. Women can invest with minimal documentation required and the flexibility of partial withdrawal after one year. Women of any age and guardians of minor girls can open an account under this scheme.
What is the Mahila Samman Savings Certificate (MSSC)?
It is a savings scheme for women and girls for the Indian government:
- It is a safe and government-backed savings option.
- Only women or guardians of girl children can open this account.
- You can deposit up to ₹2 lakh in it (minimum ₹1,000).
- It gives a fixed interest rate of 7.5% per year. It is better than most fixed deposits.
- The money is locked in for 2 years, but you can also withdraw money early.
- It is available at post offices and select banks.
Key Features of Mahila Samman Savings Certificate
- This scheme offers secure investment options to all girls and women.
- The deposit has a minimum deposit limit of ₹1,000 and a maximum of ₹2,00,000.
- Women or girls will get 7.5% interest per year, compounded quarterly.
- The money is locked in for 2 years.
- It is allowed once after 1 year, up to 40% of the balance.
- It is available at post offices and authorized banks.
- The interest earned is taxable, and the scheme does not qualify for tax deductions under Section 80C.
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Eligibility Criteria
- The applicant must be an Indian Citizen.
- The scheme is specialised for women and girl children.
- Any individual woman can open an account.
- A guardian may open an account on behalf of a minor girl.
- There is no upper age limit for the scheme.
- The account is a single-holder type account.
How to apply for the Mahila Samman Saving Certificate Online and Offline?
Follow these steps to apply for MSSC:
- Visit a Post Office or Bank.
- Get an Application form.
- Fill the form.
- Submit the necessary documents.
- Deposit the initial investment amount through cash or cheque.
- Receive a Certificate as proof of investment.
Documents Required
These are the documents required for applying for MSSC:
- Passport-size photograph.
- Pay in the slip with the cheque.
- Proof of age, i.e., Birth Certificate.
- Identity Verification Proofs (Aadhaar Card, PAN Card, Driving License, Voter’s ID card, etc.)
- Job Card issued by NREGA, signed by the State Government Officer.

Benefits of Investing in MSSC
These are the benefits women get:
- Guaranteed Returns
MSSC offers fixed interest rates, making it a low-risk investment with assured returns over the investment period.
- Government-Backed Security
It is backed by the government under schemes like the post office savings schemes. Your investment is safe and reliable.
- Regular Monthly Income
It provides a stable monthly income, ideal for retirees, senior citizens, or anyone looking for a steady cash flow.
- Capital Protection
Your principal amount is secure, making it suitable for investors who prioritize safety over high returns.
- Easy to Access
MSSC can be easily opened at post offices or authorized banks with simple documentation and low entry barriers.
- Tax Benefits
Some MSSC schemes may offer tax benefits under Section 80C of the Income Tax Act, which can help with tax planning.
MSSC Withdrawal Process
Premature closure of the account is not allowed before maturity, except when:
- The account holder passes away.
- If the post office or bank is convinced. It is based on valid compassionate reasons, such as the account holder needs medical treatment for a serious illness or the death of the guardian. It keeps the account open, which causes issues; they may allow early closure after document verification and recording the reasons in writing.
List of Banks Offering the Mahila Samman Savings Certificate
Our Department of Economic Affairs, Ministry of Finance, has authorized all public sector banks and select banks to offer the Mahila Samman Savings Certificate Schemes, as announced in the e-gazette on 27 June 2023. The following banks are eligible to provide:
- Bank of Baroda
- Punjab National Bank
- Union Bank of India
- Central Bank of India
- Canara Bank
Sample Return Calculation on ₹2 Lakh Investment
Let’s understand the potential returns from investing in the Mahila Samman Savings Certificate. Suppose you invest ₹2,00,000 at the fixed annual rate of 7.5% compounded quarterly.
- In the first year, you earn approximately ₹15,000/- interest.
- In the second year, the interest earned increases to ₹16,125/ due to compounding.
After the completion of two years, your total interest earned will be ₹31,125, making your maturity amount ₹2,31,125.
FAQs
Ques: What interest rate does the Mahila Samman Savings Certificate offer?
Ans: It offers an interest rate at 7.5% p, a..
Ques: Is Mahila Samman Savings Certified Worth it?
Ans: Yes, it is safe to invest in high-interest.
Ques: What does the Mahila Samman Savings Certificate Scheme Offer?
Ans: It is a two-year small savings scheme by the government of India.
Ques: Is Mahila Samman Discontinued?
Ans: Yes, the Mahila has been discontinued.
Ques: Is early closure allowed for the Mahila Samman Savings Certificate?
Ans: Yes, premature closure is allowed under specific conditions like medical emergencies.