Mahila Samman Savings Certificate is a government savings scheme designed to empower women in India. The Department of Economic Affairs, Ministry of Finance launched this scheme to provide financial security to girls and women across the country. The scheme allows women to make attractive and secure investments with the flexibility of opening an account until March 31, 2025, for a tenure of two years.

Under this scheme, deposits earn interest at a rate of 7.5% per annum, compounded quarterly. Individuals can deposit a minimum of Rs 1,000 and any sum in multiples of Rs 100, up to a maximum limit of Rs 2,00,000. The maturity period for investments made under this scheme is two years from the date of opening the account, with the option for partial withdrawals during the tenure.

For example, if someone invests Rs 1 lakh in the Mahila Samman Savings Certificate, they will receive Rs 1,16,022 at maturity. On the other hand, a Rs 2 lakh investment will yield Rs 2,32,044 at maturity. This scheme aims to provide financial independence and security to women in India by offering them a reliable investment option.

In a recent development, the Department of Economic Affairs allowed all Public Sector Banks and eligible Private Sector Banks to implement and operationalize the Mahila Samman Savings Certificate scheme. This move aims to increase accessibility to the scheme for women by making it available in Post Offices and eligible Scheduled Banks.

The scheme has been in operation since April 1, 2023, and will continue until March 31, 2025. With the flexibility of investment options and the promise of attractive returns, the Mahila Samman Savings Certificate is a great opportunity for women to secure their financial future.

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