Mahila Samman Certificate of Savings Calculator
Government of India has launched a new ‘Mahila Samman Certificate of Savings 2023′ scheme which can be unlocked for any girl or woman holding money in their name. The woman herself or her guardian representing the underage girl can apply to the Post Office to open an account holder from the name list on or before March 31, 2025 by a woman for herself, or by the guardian on behalf of a minor girl.
Table of Contents
- Mahila Samman Savings Certificate Calculator
- MSSC Deposit
- Interest on Mahila Samman Savings Certificate
- Pay on Time
- Mahila Samman Savings Certificate Calculator
MSSC Deposits
- A minimum of one thousand rupees and any amount in multiples of one hundred rupees can be deposited into the account. After that, no further deposit to the account is allowed.
- There will be a maximum deposit limit of Rs. Two lakh in the account or in all accounts under this scheme held by the account holder.
- An individual can open any number of accounts under the scheme subject to a maximum deposit limit of Rs. 2 Lakh and a time gap of three months between the existing account and the opening of another account. For example, an account holder who opened an account on 05.04.2023 with an amount of Rs. 50,000, you can open another account on or after 05.07.2023 with a balance of Rs. 1.50 million or part thereof.
Interest rate for Mahila Samman Savings Certificate
- The interest rate applicable to deposits under this scheme is 7.5 percent per annum. Interest is added on a quarterly basis and credited to the account.
- Interest on the Post Office Savings Account will be payable on the account opened or maintained in contravention of this scheme.
Payment when due
- The account is due after two years from the day the account was opened. Eligible balance can be paid to the account holder on application in Form 2 submitted to the relevant post office on the due date.
Mahila Samman savings certificate calculator
Calculate the estimated maturity value and interest on a deposit made under the Mahila Samman Savings Certificate (MSSC) scheme
Download the MSSC Excel calculator to find out the amount due
