MSSC Yojana: Mahila Samman Savings Certificate is a Smart Investment for Women
The Mahila Samman Savings Certificate (MSSC Yojana) is a special savings scheme introduced by the Indian Post Office, specifically designed to benefit women and girls. If you’re a woman seeking a safe and rewarding investment option, this scheme could be a perfect fit for you.
The highlight of the scheme is the 7.5% annual interest rate, along with a fixed tenure of 2 years. Interest is compounded quarterly, which means your savings grow steadily. Let’s explore all the benefits and how you can get started with the MSSC Yojana.
Objective of MSSC Yojana
The main goal of this scheme is to help women grow their savings in a safe, secure, and profitable manner. It encourages financial independence by giving women an opportunity to invest with confidence.
Even minor girls can invest in the scheme through their guardians, making this plan even more appealing for parents planning for their daughter’s future.
How to Invest in MSSC Yojana
Investing in this scheme is simple and hassle-free. You can open an account at your nearest Post Office with the required documents.
- Minimum Investment: ₹1,000
- Maximum Investment: ₹2,00,000
- Investment Tenure: 2 years
- Interest Rate: 7.5% per annum (compounded quarterly)
Partial withdrawals of up to 40% are allowed after one year of investment. However, the full amount along with interest is payable only after completing two years.
Please note: Investments made under this scheme do not qualify for tax benefits under Section 80C of the Income Tax Act.
Post Office Monthly Income Scheme
Encouraging Women Towards Financial Freedom
- The scheme is specifically designed to:
- Help women build financial security
- Motivate savings with higher returns
- Empower women to become financially self-reliant
- Whether you’re planning for future expenses, emergencies, or education, the MSSC Yojana is a wise choice.
Interest Rate in MSSC Yojana
The scheme offers a fixed interest rate of 7.5% per annum, which is compounded quarterly and credited to your account. This rate is higher than many traditional fixed deposit (FD) options available in banks.
For example:
If you invest ₹2,00,000 in MSSC Yojana, your return after 2 years can be approximately ₹2,32,044.
MSSC Yojana vs Bank Fixed Deposits (FDs)
Here’s how MSSC Yojana compares to other bank FD schemes:
| Investment Option | Interest Rate | Tenure |
|---|---|---|
| MSSC Yojana | 7.5% per annum | 2 years |
| SBI (FD) | 6.80% | 2 years |
| HDFC (FD) | 7.25% | 2 years |