The Mahila Samman Savings Certificate (MSSC) is a small financial savings initiative which goals to spice up monetary safety and financial savings habits amongst Indian girls and ladies. Launched by the Department of Economic Affairs in 2023, the scheme is a government-backed funding possibility for ladies with a hard and fast tenure of two years.
Who can spend money on MSSC?
Under the MSSC scheme, any girl can open an account. For minor ladies, dad and mom or guardians can open an account on their behalf.
What is the age restrict to use for MSSC?
The authorities has not specified any age restrict or restrictions for opening an MSSC account. The scheme is just for girls and ladies aiming to advertise the behavior of saving.
How a lot rate of interest does MSSC supply?
Currently, the scheme gives an rate of interest of seven.5% each year, which is compounded quarterly.
When is the final date to use for the scheme?
The final date to spend money on the Mahila Samman Savings Certificate is March 31, 2025.
Where to use for MSSC?
The authorities has authorised publish workplaces or any scheduled financial institution beneath the MSSC scheme. These channels can be utilized to avail the advantages of the scheme.
What is the minimal and most deposit quantity?
Under MSSC, deposits may be made out of ₹1,000 to ₹2 lakh per account, aiming to cater to girls from different financial backgrounds.
Can MSSC deposits be withdrawn? What are the withdrawal guidelines?
MSSC has a hard and fast tenure of two years; nonetheless, untimely withdrawal of as much as 40% is permitted after one yr.
Can the MSSC account be closed earlier than two years?
Premature closure of the MSSC account may be accomplished beneath the next circumstances.
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