MSSC Scheme: Earn Over ₹32,000 In Interest For Your Wife, Daughter, Or Mother In Just 2 Years
The government has introduced several schemes to empower women financially, one of which is the Mahila Samman Savings Certificate ( MSSC ). This special deposit scheme offers women the opportunity to earn interest at an attractive rate of 7.5% per annum. The scheme runs for a fixed period of two years, allowing family members to invest for the benefit of their wife, daughter, or mother. However, it's important to note that investments in this scheme are only available until March 2025.
How Much Can You Earn?
The MSSC calculator provides a clear picture of potential earnings:
- If you invest ₹2,00,000 in the name of a woman in your family, you'll earn ₹32,044 in interest over two years at a rate of 7.5%. The total maturity amount will be ₹2,32,044.
- For a ₹1,50,000 investment, the maturity amount will be ₹1,74,033, with ₹24,033 earned as interest.
How to Open an MSSC Account
To open an account under the Mahila Samman Savings Certificate, simply visit your nearest post office. You will need KYC documents such as an Aadhaar card, PAN card, and a passport-sized photo. The scheme is open to women of all ages, so you can invest on behalf of your wife, daughter, or mother.
Partial Withdrawal Option After One Year
While the scheme matures in two years, it also allows partial withdrawals after completing one year. You can withdraw up to 40% of the invested amount if needed. For instance, if you have deposited ₹2,00,000, you can withdraw ₹80,000 after one year.
This scheme offers a secure and lucrative way for women to grow their savings with a guaranteed interest rate, along with the flexibility of partial withdrawal. If you're looking for a reliable short-term investment option for the women in your family, the MSSC is a great choice.
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