Winning Bizness Desk
Mumbai The government’s special investment scheme for women, ‘Mahila Samman Savings Certificate’ (MSSC), will be discontinued from April 1, 2025. No new investments will be accepted after March 31, 2025.
The scheme was initially announced in the Union Budget on February 1, 2023, and was launched on April 1, 2023, for a fixed tenure of two years. As the two-year period ends on March 31, 2025, the government has not yet issued any notification regarding its extension.
Scheme Offers 7.5% Annual Interest Rate
The Mahila Samman Savings Certificate offers an attractive annual interest rate of 7.5%, making it a lucrative investment option for women. The minimum investment required is ₹1,000, while the maximum limit is ₹2 lakh. The investment tenure for the scheme is two years.
Partial Withdrawal Allowed Before Maturity
Although the scheme requires a two-year lock-in period, certain provisions allow premature withdrawals. In special circumstances, the account can be closed after six months, but the interest rate will be reduced to 5.5% instead of 7.5%.
Additionally, after one year, account holders can withdraw up to 40% of the invested amount without breaking the account. This flexibility makes it a viable option for women looking for secure investment with partial liquidity.
Investment Allowed in the Name of Minor Girls
The scheme is designed to empower women financially. A woman can open an account in her name, and parents or legal guardians can also open an MSSC account in the name of their minor daughters. This feature makes it a beneficial option for securing a girl child’s financial future.
Where and How to Open an MSSC Account?
The Mahila Samman Savings Certificate account can be opened at post offices and authorized banks across the country. To open an account, applicants must submit the required form along with KYC documents such as Aadhaar card, PAN card, and proof of residence.
With the deadline approaching, women looking to invest in a secure, government-backed scheme with high returns should invest before March 31, 2025. The government has yet to announce any plans to extend the scheme beyond this date.
