If you’re a woman looking to make sure your savings grow safely over time, then this information is for you.
In 2023, the Modi government introduced a special program called the ‘Mahila Samman Saving Certificate’ just for women.
It’s a short-term savings plan where any woman can invest her money and earn guaranteed returns.
Let’s break down what this scheme offers
Investment Range: You can invest any amount between Rs 1,000 to Rs 2 lakh. The investment matures in 2 years,
and any woman, regardless of age, can open an account. Even girls under 18 can open one with their parents’ help.
Opening an Account: You can open an account at the post office or authorized banks.
Just fill out a form and complete the KYC process by providing your Aadhar card, PAN card, and a passport-size photo. Once done, you can deposit up to Rs 2 lakh into your account.
Early Withdrawal: The scheme also allows for early withdrawals. After one year, you can withdraw up to 40% of your deposited amount.
In case of the account holder’s death, the nominee can claim the deposited money.
If you need to close the account early for any reason, you’ll still earn interest, but at a slightly lower rate of 5.50% instead of 7.50%.
