March 27, 2026

Everything you Wanted to Know About Mahila Samman Savings Certificate

Summary:

Mahila Samman Savings Certificate is a small savings scheme for women investors that aims to empower them financially. It offers a fixed interest rate of 7.5% and a two-year maturity period.
Over the years, the Government of India has come up with several schemes for women empowerment, such as Beti Bachao Beti Padhao, Bhartiya Mahila Bank Business Loan, Dena Shakti Scheme, etc. Mahila Samman Savings Certificate is the latest in this list, which aims to empower women financially.
This small savings scheme announced in Union Budget 2023 has now been launched. Read on to learn about it in detail.

Mahila Samman Savings Certificate - What is it?

Mahila Samman Savings Certificate is a one-time savings scheme for women that aims to empower them by increasing their participation in investments. It offers a fixed interest rate of 7.5% and is available only for two years, from April 1, 2023 to March 31, 2025. While the minimum investment is INR 1000, the maximum investment is INR 2 lakh.
Suppose you invest INR 2 lakhs in the scheme at the end of the first year, the interest will be INR 15,000 on the principal amount (7.5% of INR 2 lakh). In the second year, you will get INR 16,125 as interest (7.5% of INR 2.15 lakh). At the end of two years, the maturity amount will be INR 2,31,125 (INR 2 lakh + INR 15,000+ INR 16,125).

Salient features of Mahila Samman Savings Certificate

Given below are the salient features of the Mahila Samman Savings Certificate:

Guaranteed Returns

This is one of the major benefits of this scheme. Being government-backed, it offers guaranteed returns. There’s no fear of loss of capital due to market volatility. With a fixed interest rate throughout the scheme’s tenure, it offers an assured payout that gives peace of mind.

Easy participation

Any woman investor can participate in the scheme, even minors. In case of minors, the guardian can open the account on their behalf.

Low investment amount

Mahila Samman Savings Certificate has a low investment amount to ensure maximum participation. As the minimum investment amount is INR 1000, it ensures women with low income can invest and benefit from the scheme.

Wide availability

The scheme is available across post offices and banks such as Bank of Baroda, Canara Bank, Bank of India, Punjab National Bank, and Union Bank of India. The wide availability ensures there are multiple places where you can go and invest.

Nomination facility

The Mahila Samman Savings Certificate offers a nomination facility like any financial investment. You can nominate up to 4 persons per account and define their percentage in the final maturity amount. Nomination ensures your intended beneficiaries get the amount you wanted them to have in case you are no longer around.

Facility to open multiple accounts

Mahila Samman Savings Certificate allows you to open multiple accounts in your name. That said, there are certain conditions to it. These are:
  • The maximum investment amount across all accounts shouldn’t be more than INR 2 lakh
  • There should be a gap of minimum 3 months between an existing account and a new account

Partial withdrawal facility

There can be circumstances where you might need money. The scheme offers the facility to make partial withdrawals. However, note that:
  • You can make partial withdrawals only after 1 year from the date of account opening
  • You can withdraw only 40% of the eligible balance. So, let’s say the eligible balance is INR 1 lakh, you can withdraw only INR 40,000

Documents required for Mahila Samman Savings Certificate

You need to produce certain documents to open an account to invest in Mahila Samman Savings Certificate. These are:
  • Know Your Customer (KYC) documents such as Aadhaar Card, voter’s card, driving licence, etc
  • PAN card
  • Cheque or pay-in-slip along with the deposit amount
You need to fill out the application form along with these documents.

How to invest in Mahila Samman Savings Certificate?

To invest in the scheme:
  • Visit your nearest post office or bank offering the scheme
  • Fill out the account opening form, provide the necessary documents and the nomination details
  • Deposit the investment amount via cash or cheque
  • Get the certificate that serves as proof of investment

Premature closure of the account

Though the scheme’s tenure is 2 years, it can be closed prematurely. However, there are certain conditions for doing so. These include:
  • In the event of the account holder’s death
  • In exceptional cases of compassion such as life threatening disease of the account holder or guardian’s death
If the account is closed for the reasons mentioned above, you will get a fixed 7.5% interest rate. However, if the account is closed after 6 months from opening without any reason, the interest rate offered will drop to 5.5%.

In conclusion

For women wanting to venture into the world of investments and make a steady start, Mahila Samman Savings Certificate can be a good starting point. Happy investing!

Never miss a trading opportunity with Margin Trading Facility

Enjoy 2X leverage on over 900+ stocks

Upstox Margin Trading Facility
Apple Logo
Downloadlogo
iOS App
Google Play Logo
Downloadlogo
Android App

RELATED ARTICLES

EPF Interest Rate 2023 & How to Calculate it Online

EPF (Employee Provident Fund) is a savings-retirement scheme devised for salaried employees under the Employees Provident Fund and Miscellaneous Act of 1952. The management of this provident fund is overseen by the Employees’ Provident Fund Organization or EPFO. In this policy, the employee and the employer contribute monthly. Every monthly installment is added to the EPF corpus till the retirement of an individual, and the interest is accrued at a stipulated rate on these deposits. Upon retirement, this EPF corpus encompasses the monthly contributions of the employee and the employer, including the interest generated over the years. The fund collected can also be withdrawn in certain situations as decreed by EPFO, like during unemployment. Thus, the scheme of EPF has been designed to act as a financial safety net for when an employee does not get a monthly paycheck.

GPF Rules (General Provident Fund Deposit) 2023 - Withdrawal & Nomination

Retirement planning constitutes an integral part of financial planning. Planning for retirement does not only ensure that your funds get sorted post-retirement but also ensures you fulfill your dreams, such as travelling around the world. Though the government of India backs several schemes, [Public Provident Fund (PPF)](https://upstox.com/saving-schemes/public-provident-fund-ppf-interest-rate/), [General Provident Fund(GPF)](https://upstox.com/saving-schemes/gpf-general-provident-fund-for-government-employees/) and Employees' Provident Fund(EPF) are the widely known ones. Today, we are going to focus on the General Provident Fund and its various rules you must know before subscribing to the scheme. In this blog, we will cover the following: - What is a GPF? - Eligibility rule for GPF - Nomination rule for GPF - Deposit rule for GPF - GPF interest rules - GPF rules for withdrawals - GPF advance rules - GPF taxation rules

Loan Against PPF Account and How to Take: Interest Rate and Calculation

Availing of a loan can be a hectic process, especially if you take one for the first time, are self-employed, or have a bad credit score. However, there are ways to navigate this as well, and one such option is a loan against PPF. You must have heard about PPF, the Public Provident Fund, a fixed-income investment scheme offered by the central government for the citizens of India. If you have been investing in this scheme, then you can avail loan against your investment in the PPF account. Let's understand how this works in detail. The article will cover the following topics: - What is a PPF account? - What is a loan against PPF? - Key features of loan against PPF - Benefits of loan against PPF - Risks involved in availing of loan against PPF - Conclusion

What is Form 15G & How to Fill Form 15G for PF Withdrawal

Have you or someone from your immediate family invested in a fixed deposit, provident funds, or similar financial investment schemes? If yes, Form 15G is something you should know of. Form 15G is to be filled out by fixed deposit holders (who can be individuals under the age of 60 years or Hindu Undivided Family) to ensure that no TDS (Tax Deduction at Source) is subtracted from the interest income in a year. As per recent income tax regulations, it is mandatory for all banks and financial institutions to deduct tax at sources for any interest earned on financial instruments like [fixed deposits (FD)](https://upstox.com/banking/what-is-fixed-deposit-fd-interest-rates-benefits-account-opening-process/), recurring deposits, provident funds, or others. In keeping with this rule, the Employees’ Provident Fund Organization (EPFO) united portal launched a facility to submit Employee Provident Fund (EPF) Form 15G for PF online. This enables EPF members to withdraw their PF online and avoid TDS deductions on their investments.