The Mahila Samman Savings Certificate Scheme (MSSC) is a small savings scheme recently launched by the government to commemorate the Amrit Mahotsav of Freedom and it is exclusively for women and girls in India. Union Finance Minister Shri Pankaj Chaudhary said today in a written response to a question to the Lok Sabha.
So far, 14,83,980 accounts with total deposits of Rs 8,630 crore have been opened under the scheme. State details of total deposits made and account opened under Mahila Samman Savings Certificate Scheme (MSSC) are attached as ANNEX.
Some of the salient features of the schemes include:
- The MSSC account can be opened by women of any age group including child with a minimum deposit of ₹1000/- and a maximum deposit of ₹2 Lakh for a period of two years.
- The interest rate for MSSC is 7.5% per annum compounded quarterly.
- The possibility of partial termination and early closure on compassionate grounds are also available under this scheme.
The minister said the Indian government had authorized the post department, all public sector banks and four private sector banks to operate MSSC.
Mahila Samman Savings Certificate Scheme has been made available for a period of two years till March 2025. An application for opening an account can be submitted until 31st March 2025, the minister said.
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PPG/KMN
