Mahila Saman Savings Certificate (MSSC) scheme offers 7.5% interest on investment for women.


Mahila Saman Savings Certificate (Photo Courtesy: Krishi Jagran)
Mahila Saman Savings Certificate (Photo Courtesy: Krishi Jagran)

Mahila Saman Savings Certificate is a small scale savings initiative specially designed for women investors. Its main objective is to increase the participation of women in financial investment and promote their economic inclusion. Let us consider the details of this scheme.

What is Mahila Saman Savings Certificate?

MSSC is a government-backed savings scheme designed for women, introduced in the 2023 budget. It aims to empower women by encouraging their active participation in investment activities. Under this scheme, women can avail guaranteed fixed interest rate of 7.5%. This investment opportunity is available for a limited period of two years, from 1st April 2023 to 31st March 2025. After this period participation in the scheme is not possible.

Features of Mahila Saman Savings Certificate (MSSC)


Any women including minors

interest rate


Minimum investment

1,000 Rs

Maximum investment

2 lakhs (in all accounts combined)

Maturity period

2 years

Features of Mahila Saman Savings Certificate Scheme

Guaranteed Returns: This government-backed program guarantees a fixed rate of return, which provides protection against market fluctuations. Your investment is not affected by market fluctuations.

Collection Limit: To start investing in this program, you can start by depositing a minimum of Rs. 1,000, with additional deposits in multiples of Rs. 100 is not allowed. The maximum permissible total deposit in one or more accounts is Rs. 2 lakhs while you can open multiple accounts, the collective investment should not exceed Rs. 2 lakh, and there should be a gap of three months between the dates of opening existing and new accounts.

Maturity: This scheme includes a lock-in period of two years, meaning you will get your maturity amount two years after opening the account.

Nomination: Mahila Saman Savings Certificate offers a nomination feature, which allows you to nominate up to four nominees per account and specify their respective shares in the fund. You can also add a minor as a nominee, but you must provide guardian details. In the unfortunate event of your demise, your nominees will get the final corpus from your account in the proportion you have specified on the form.

Multiple accounts: Under the Mahila Saman Savings Certificate Scheme, you have the option to open multiple accounts in your name subject to certain conditions:

Partial withdrawal:

The scheme also offers a partial withdrawal facility, which allows you to access a portion of your balance before maturity. This option becomes available one year after opening the account, and you can withdraw up to 40% of the eligible balance.

Premature Closure:

While the standard maturity period of the scheme is two years, there are exceptional circumstances under which you can close the account before maturity:

  • In case of death of account holder.

  • In extremely compassionate cases, such as the account holder facing a life-threatening illness or the guardian passing away, provided relevant documents are provided.

  • After six months from the date of account opening, for any reason, but with a reduction in interest rate of 2%, bringing it down to 5.5%

Required Documents:

In order to invest in Mahila Saman Savings Certificate, you have to fulfill certain documentation requirements. Documents required for account opening are:

  • Mahila Saman Savings Certificate Account Opening Form

  • KYC documents, including Aadhaar and PAN card.

  • KYC form for new account holder.

  • Pay-in slip

Mahila Saman Savings Certificate Eligibility Criteria

The Mahila Saman Savings Certificate Scheme is designed for women only, allowing any woman above the age of 18 to invest in it freely. In case of minors the guardian can open the account on behalf of the girl child.

Tax Benefits of Mahila Saman Savings Certificate

Generally, most small savings schemes offer tax benefits. However, the government has not provided any specific information about the tax implications of the scheme. Until further details are disclosed, it can be assumed that the scheme will be subject to normal taxation based on the applicable slab rates.

How to open Mahila Saman Savings Certificate Account?

Mahila Saman Savings Certificate Scheme is offered by India Post. The steps to invest in this scheme are:

  1. Visit your nearest post office.

  2. Complete the Account Opening Form (Form I), which is available at the post office counter and can also be downloaded from the India Post website. Form I must be submitted on or before March 31, 2025.

  3. If you are a new account holder with India Post, you also need to submit the KYC form.

  1. Provide KYC documents, like your Aadhaar card, PAN, address proof etc.

  2. Deposit the investment amount by cash or check.

After submitting the completed form and making the payment, the post office will issue the scheme certificate.

First Published: 21 Sep 2023, 11:42 IST


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