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Calculate the maturity value of the 2-Year special small savings scheme exclusively for women and girls.
Maturity Value (After 2 Years)
₹2,00,000
₹32,044
Did you know? While the interest rate is 7.5%, because it is compounded quarterly, the effective annual yield comes out slightly higher at roughly 7.71%.
Launched in the 2023 Union Budget, the Mahila Samman Savings Certificate (MSSC) is a one-time new small savings scheme backed by the government. It was launched to commemorate Azadi Ka Amrit Mahotsav and specifically empower women financially.
The scheme is exclusively for women and girls. A guardian can open it on behalf of a minor girl. It is available only for a limited window of 2 years (up to March 2025).
At 7.5% compounded quarterly, it offers better rates than many standard 2-year bank FDs. However, to prevent misuse, the deposit is hard-capped at an aggregate of ₹2 Lakhs per investor.
The account can be opened by a woman for herself, or by a guardian on behalf of a minor girl child.
The maximum investment limit is ₹2,000,000 (Two Lakh Rupees). Multiple accounts can be opened, but the cumulative total across all accounts must not exceed ₹2 Lakh, and there must be a gap of at least 3 months between the opening of existing accounts and the new one.
The current interest rate is 7.5% per annum. The interest is compounded quarterly and credited to the account, but it is paid out only at maturity after 2 years.
Partial withdrawal up to 40% of the eligible balance is allowed once after one year from the date of account opening. Complete premature closure is allowed in special circumstances like death or extreme compassionate grounds (life-threatening illness), with either normal interest or penalty interest depending on the case.
No, investment in Mahila Samman Savings Certificate does NOT qualify for deduction under section 80C of the Income Tax Act. The interest earned is also taxable as per your income tax slab.