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

Pradhan Mantri Vaya Vandana Yojana (PMVVY) 2023 - Interest Rate & Scheme

The Pradhan Mantri Vaya Vandana Yojana, also known as PMVVY, is a scheme released by the Government of India. It is an insurance policy and pension-based scheme which aims to provide additional sources of income to the senior citizens of India. The Life Insurance Corporation manages the policy (LIC), and the Government of India supports the entire fund. The primary objective of the PMVVY scheme is to help the citizens of India manage their finances post-retirement. It gives them an avenue to diversify their sources of income after retirement so that they are not just dependent on the Provident fund and monthly pensions for managing their expenses. Also, a fund like the Pradhan Mantri Vaya Vandana Yojana protects senior citizens from the uncertainties of the market and the fluctuations in interest rates. As the PM Vaya Vandana Yojana is a retirement scheme, only people above 60 can avail of it. Earlier, the policy had a time frame of around three years. It was available from 4th May 2017 to 31st March 2020. However, the period was recently extended to 31st March 2023 via a Government Press Release. When citizens invest in the Vaya Vandana Yojana scheme, they become eligible for regular payouts once for the next ten years from the day they invest in the scheme. As the PM Vaya Vandana Yojana is a Government based scheme, it provides a steady return at 7.4 per dent, which is better than most mutual funds and bank deposits. You can deposit a maximum of Rs. 15 lakhs to the scheme. The best thing about the PMVVY scheme is that you can apply for the scheme both online and offline.

PRAN (Permanent Retirement Account Number) - Login & How to Get

The Indian government created the National Pension System (NPS) in 2004. Employed people may build a retirement corpus under this pension plan by making annual payments throughout their working years. The National Pension System (NPS) is a pension-combined investment plan. This program was first only available to government workers, but subsequently, it was made available to workers in every industry. Individuals may make annual payments in a viable route that would provide market-linked returns via the National Pension System. These returns would build into a sizable corpus that people might use to finance their post-retirement lifestyle. People must have a Permanent Retirement Account to which they may apply for a Permanent Retirement Account Number card, or PRAN card, to join the NPS.

Sukanya Samriddhi Yojana (SSY) 2023 - Interest Rate, Details, Schemes, & Benefits

Sukanya Samriddhi Yojana, commonly known as SSY, is a scheme for girls launched to better their futures. This scheme was launched under the campaign Beti Bachao, Beti Padao, which was announced in 2015 by the Prime Minister of India. It is a scheme that has been sponsored by the government for the betterment of the life of girls in India. The program was launched to ensure a good future for the female child and allows parents to construct a fund for their girl kid's future schooling and marriage expenditures. This child insurance plan helps the parents or the guardians in giving financial security to the girl child 10 or below. Under the Sukanya Yojana, a girl's account can be opened in any bank, whether public or commercial, for a period of 21 years. The total term for investment is 21 years, which starts from the date the account is opened. It is a deposit system designed specifically for girls. This program was created to ensure that the future of the girls is secure financially.

PPF Account Limit 2023: Deposit, Age, Maximum Investment and Withdrawals

A Public Provident Fund is a long-term investment scheme launched by the government of India. It comes under the Public Provident Fund Act of 1968. A few of the major reasons for the attractiveness of the PPF scheme are safety, attractive interest rates, tax benefits and returns being fully exempted from tax. It has a lock-in period of 15 years, meaning that you can only withdraw your funds after the maturity date. You can extend the tenure by blocks of five years. To open a [PPF account](https://upstox.com/saving-schemes/public-provident-fund-ppf-interest-rate/), you will need to visit a bank or post office. But for that, you must be aware of PPF limits or PPF limitations, which we are going to talk about in this blog. In this article, we will cover: - PPF eligibility limit - Deposit limit for the PPF scheme - Frequency of contributions - The withdrawal limit for the PPF scheme - How much amount can you withdraw? - PPF loan limit - PPF age limit