NewDelhi: The Modi Government Announces Unique Savings Scheme For Women; 7.5% Simple Interest Up To 2,000/- Account Limit The Mahila Samman Savings Certificate (MSSC), which Prime Minister Narendra Modi’s government launched in 2023, is intended to provide women with financial independence and encourage a savings culture among them. With its attractive 7.5% return, the MSSC scheme serves as an attractive investment proposition for women nationwide.
While the minimum deposit amount under the scheme is ₹1,000, account holders can deposit ₹2 lakh at most, and it has a maturity period of two years. The first-year eligible balance can also be withdrawn by investors, to the 40%. This is an ideal opportunity for married men to invest in their wives’ names under this scheme. Unmarried individuals are also not excluded, as they can open accounts for their mothers or daughters, thus extending the reach and impact of the scheme.
A maximum investment of ₹2 lakh would give an amount of ₹2,32,044 at maturity, amounting to an interest earning of ₹32,044 over two years. To promote this scheme, the government has opened the MSSC scheme through all the banks and post offices in the country; the women can participate in it and take advantage of this scheme.
The introduction of this revolutionary financial product exemplifies the government’s dedication to the financial inclusion and economic empowerment of women. Through its appealing interest rate and flexible terms, the MSSC scheme empowers women to gain financial control and ensure their future stability.