The Mahila Samman Savings Certificate (MSSC) scheme, announced in the Union Budget 2023, is a small savings plan for women and girls in India

Mahila Samman Savings Certificate: Has Budget 2025 proposed extension beyond the deadline of March 31, 2025? It is available until March 31, 2025, with a maximum investment limit of Rs 2,00,000. The scheme offers a fixed interest rate of 7.5% per annum, which is higher than the interest rate offered by banks on fixed deposits currently

Finance Minister Nirmala Sitharaman has not proposed any extension for the Mahila Samman Savings Certificate in Union Budget 2025. The scheme is scheduled to end on March 31, 2025. Women investors have time till March 2025 to invest in the scheme.

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The Mahila Samman Savings Certificate (MSSC) was announced in Union Budget 2023 on March 31, 2023. It is a small savings scheme for women and girls in India. The scheme was launched to commemorate the Azadi ka Amrit Mahotsav. The scheme was valid for a two-year period till March 31, 2025.

The scheme offers an interest rate of 7.5% per annum, which is higher than the interest rate currently offered by banks offering fixed deposits on a two year tenure.

Mahila Samman Savings Certificate (MSSC) FAQ

1. What is the Mahila Samman Savings Certificate (MSSC)?
The Mahila Samman Savings Certificate is a government-backed small savings scheme introduced specifically for women and girls. It offers a safe investment option with assured returns and encourages financial inclusion among women.

2. Who can invest in MSSC?
Any woman or girl can open an MSSC account in her name. A guardian can open the account on behalf of a minor girl.

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3. What is the investment limit under MSSC?

The minimum investment is Rs 1,000, and the maximum amount is Rs 2,00,000 in a financial year.

4. What is the interest rate for MSSC?

The scheme offers a fixed interest rate of 7.5% per annum. This interest rate is compounded quarterly.

5. What is the tenure of the scheme?

The maturity period of MSSC is 2 years from the date of deposit.

6. Can I make multiple deposits in MSSC?

Yes, multiple accounts can be opened under the scheme, but the combined deposits in all accounts should not exceed the maximum limit of Rs 2,00,000.

7. Is partial withdrawal allowed?

Yes, partial withdrawal of up to 40% of the balance is allowed after the completion of 1 year from the date of deposit.

8. Is premature closure of the account allowed?

Premature closure is allowed in the following cases:

Death of the account holder.
Extreme hardship (e.g., medical emergencies).
After completing 6 months, the account can be closed voluntarily, but interest may be adjusted accordingly.

9. How to open an MSSC account?
The account can be opened at designated post offices or authorized banks by submitting a duly filled application form, identification documents, and the deposit amount.

10. What are the tax implications of MSSC?

The interest earned under MSSC is taxable as per the individual's income tax slab. However, no tax deductions are available for the principal invested.

11. What happens on maturity?

At the end of 2 years, the account holder will receive the total amount along with the accrued interest. The amount can be credited to a bank account or withdrawn in cash.

12. Can the account be transferred?

Yes, the MSSC account can be transferred from one post office or bank to another.

13. Who can benefit the most from MSSC?

The scheme can be ideal for women seeking short-term savings with assured returns and financial security. It particularly benefits those who prefer low-risk investments.