On the occasion of International Women’s Day on March 8, we are going to tell you about special schemes for women. Post Office Mahila Samman Bachat Patra scheme has been launched in April 2023.
Mahila Samman Savings Yojana
On the occasion of International Women’s Day on March 8, we are going to tell you about special schemes for women. The Post Office Mahila Samman Bachat Patra scheme has been launched in April 2023. It is a small savings scheme aimed at promoting economic growth of women. Available in private banks.
According to the India Post website, (indiapost.gov.in) the Post Office Mahila Samman Savings Scheme allows eligible customers to open multiple accounts up to Rs 2 lakh.
• 10 Important Things About Mahila Samman Savings Certificate Scheme
1. Who can open Mahila Samman Savings Certificate Account?
– Women can invest in this scheme for themselves or on behalf of their minor daughter.
2. Mahila Samman Savings Certificate Interest Rate
– Mahila Samman Savings Yojana pays 7.5 percent interest per annum for the quarter ending March 31, 2024.
3. Maturity period
– Mahila Samman Savings Yojana matures within a period of two years from the date of account opening.
4. How to open an account?
– Women can open a Samman Samman Savings Certificate account by submitting an application along with KYC documents (Aadhaar and PAN), pay-in slip and money to be invested in cash or check at the post office.
5. How is interest paid?
– After maturity the total amount (principal plus interest) is credited to the depositor’s account.
6. Minimum investment
– A minimum investment of Rs 1,000 is required to open Mahila Samman Savings Certificate Yojana account.
7. Maximum investment
– A maximum limit of 2 lakhs is applicable on each customer’s account.
8. Are multiple accounts allowed?
– Mahila Samman Savings Certificate Scheme allows the same depositor to have more than one account with a minimum gap of three months.
9. Are any withdrawals allowed in Mahila Samman Savings Certificate Scheme before maturity?
– Withdrawal of up to 40 percent can be made after completion of one year from the date of account opening.
10. Premature Xoozing
Mahila Samman Savings Certificate account can be prematurely closed after completion of six months from the date of opening. However, premature closure results in a reduction of 200 basis points (two percentage points) in the applicable interest rate.
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