Should invest in Mahila Samman Savings Certificate Scheme? Know how much will have to be paid
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Mahila Samman Savings Certificate: In Budget 2023, Finance Minister Nirmala Sitharaman had told about Mahila Samman Savings Letter Scheme. After the announcement of the Finance Minister, this scheme has been started from 1st April. In this scheme, women of any age can invest up to Rs 2 lakh. This scheme has been made like a fixed deposit scheme. If a woman wants to take advantage of this scheme, then by March 31, 2025, she can open an account in the post office or any bank under this scheme.
What is Mahila Samman Savings Certificate Scheme?
Mahila Samman Savings Certificate Scheme is a small savings scheme launched for women. Under this scheme, any woman or girl can deposit an amount of up to Rs 2 lakh. Under this scheme, investors get the benefit of 7.5 percent interest rate. Investments can be made from Rs 1000 to Rs 2 lakh in this. Under this scheme, the government will deposit the interest in the account every quarter. If you open an account in April 2023, then the maturity of this scheme will be in April 2025. The special thing is that under this scheme, you can make partial withdrawal from the deposited amount after 1 year.
Do this work to open MSSC account
To start investing, you can visit your nearest post office or bank branch, where you can open your MSSC account. While going to the bank to open your account, do not forget to carry your KYC documents like your PAN, Aadhaar, Voter ID and driving license with you.
Know under which circumstances the account can be closed prematurely?
Mahila Samman Savings Certificate account can be prematurely closed after 6 months from opening without assigning any reason. But, in this case, less interest will be given on your investment i.e. only 5.5% instead of regular 7.5%. The account can be closed prematurely even if the account holder dies. Apart from this, closure of the account will also be allowed on the following compassionate grounds.
– If the account holder gets a fatal disease.
– If the guardian of the minor dies, the beneficiary will be entitled to interest accrued on the original deposit amount. In this case, the documents related to the death of the Guardian have to be shown.
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