The government has introduced several schemes across the country to empower women and make them self-reliant. One such scheme is the Mahila Samman Savings Certificate Scheme, which will end on April 1, 2025, after which women will no longer be able to invest in this scheme.
The Mahila Samman Savings Certificate offers an attractive interest rate of 7.5%, along with other benefits. Here’s a detailed guide about its eligibility criteria and advantages.
Last Date for Mahila Samman Savings Scheme
The Mahila Samman Savings Scheme was launched in April 2023 and was initially introduced for a period of two years. The scheme’s deadline is March 31, 2025, meaning applications will only be accepted until this date. If you are considering investing in this scheme, ensure you submit your application before March 2025. Post-April, the scheme will no longer be available.
Mahila Samman Savings Scheme Registration
The Mahila Samman Savings Certificate is a government-backed scheme, ensuring that the invested amount is entirely secure. If you plan to invest, you need to visit your nearest post office to submit your application. You can also apply through various bank branches. Documents required for this scheme include an Aadhaar card, mobile number, bank passbook, and PAN card.
Eligibility for Mahila Samman Savings Scheme
Any woman or girl can invest in the Mahila Samman Savings Certificate.
There is only one eligibility rule: the woman or girl must be an Indian citizen. Parents or guardians can also open an account under this scheme in the name of their daughter. The minimum investment amount is ₹1,000, and the maximum limit is ₹2 lakhs.
Withdrawal from the Account
Account holders can withdraw up to 40% of the deposited amount by submitting Form-3 after the completion of one year from the account opening date but before the account’s maturity. If the account is opened on behalf of a minor girl, the guardian can apply for withdrawal for the benefit of the minor.
This scheme ensures financial security and is a step towards empowering women to take charge of their savings and investments.