Mahila Samman Savings Certificate Scheme: A Milestone in Women's Financial Empowerment
| Aspect | Details |
|---|---|
| Scheme Name | Mahila Samman Savings Certificate (MSSC) |
| Launch Date | 31st March 2023 |
| Purpose | Promote financial security and independence for women and minor girls |
| Accounts Opened | 43,30,121 (as of 31st October 2024) |
| Interest Rate | 7.5% per annum, compounded quarterly |
| Deposit Limits | Minimum: ₹1,000; Maximum: ₹2 lakh |
| Tenure | Fixed for two years |
| Eligibility | Women for themselves or guardians for minor girls |
| Partial Withdrawal | Up to 40% of the eligible balance allowed |
| Premature Closure | Allowed for medical emergencies or death of the account holder |
| Interest Adjustment | If closed after six months, interest rate reduced by 2% |
| Application Process | Accounts can be opened at Post Offices or designated banks |
| Documentation Required | Completed form and initial deposit |