New Delhi: Finance Minister Nirmala Sitharaman had announced this scheme for women while presenting the Budget 2023 in February. Mahila Samman Savings Certificate is a new scheme for women. This savings scheme will be launched in April 2023. Banks and post offices across the country will start the Mahila Samman Savings Certificate Scheme. Along with good returns, you will also be able to take advantage of extra exemption under the new tax regime.
You can get good returns by investing up to Rs 2 lakh for a period of two years in the name of women or girls. Mahila Samman Savings Certificate offers an investment option of up to Rs 2 lakh in the name of women or girls for a period of 2 years at a fixed interest rate of 7.5% with partial withdrawal. Under the Mahila Samman Savings Certificate Scheme, an account can be opened only in the name of a girl or woman in any bank and post office of the country.
To invest in this scheme, you’ll need to visit the bank or post office and get the Mahila Samman Bachat Patra Yojana form. Fill the application form with your financial, personal and enrolment information in the form. Send the form along with necessary documents like identity and address verification. Set a deposit amount, and then deposit money using cash or check. After this, you will get a certificate as proof of investment under Mahila Samman Savings Certificate.
Suppose if you invest Rs 2 lakh in this scheme for two years. You will get a fixed interest rate of 7.5% per annum. In the first year, you will get an interest of Rs 15,000 on the principal amount. In the second year you will get Rs 16,125 interest on Rs 215000. After two years you will get Rs. 231125.
