Sarkari Yojana
Mahila Samman Savings Certificate
About Mahila Samman Savings Certificate
The Department of Economic Affairs, Ministry of Finance, launched the “Mahila Samman Savings Certificate” to offer women and girls in India financial security along with an attractive investment option. Available through Post Offices and eligible public and private sector banks for wide accessibility, it runs for a 2-year tenure at 7.5% per annum interest, compounded quarterly, on deposits between ₹1,000 and ₹2,00,000. It also allows partial withdrawal of up to 40% of the balance, and subscriptions remain open until 31st March 2025.
Scheme Overview
Central Government
Ministry Of Finance
Post Office Branch Or A Designated Bank
Individual
01 Apr 2023
Scheme Details
Eligibility Requirements
To qualify for Mahila Samman Savings Certificate, applicants must satisfy the following conditions:
Applicants must hold Indian citizenship
Applicants must hold Indian citizenship.
The scheme is open only to women and…
The scheme is open only to women and girl children.
Any individual woman may apply under the scheme
Any individual woman may apply under the scheme.
A guardian may also open an account on…
A guardian may also open an account on behalf of a minor.
There is no upper age limit — women…
There is no upper age limit — women of any age can benefit from this scheme. Note: An account opened under this Scheme is a single-holder type account. Deposits:
An individual may open any number of accounts,…
An individual may open any number of accounts, subject to the overall deposit ceiling, with a three-month gap required between opening one account and the next.
Deposits start at a minimum of ₹1000/- and…
Deposits start at a minimum of ₹1000/- and thereafter must be in multiples of one hundred rupees; no further deposits are allowed in an account after the first.
The total deposited in an account, or across…
The total deposited in an account, or across accounts held by one person, cannot exceed ₹2,00,000/-. Payment on maturity:
The deposit matures two years from the deposit…
The deposit matures two years from the deposit date, at which point the Eligible Balance may be paid to the account holder.
When calculating the maturity value, any fraction of…
When calculating the maturity value, any fraction of a rupee is rounded off — fifty paise or more counts as a full rupee, and less than fifty paise is dropped. Withdrawal from account:
The account holder may withdraw up to 40%…
The account holder may withdraw up to 40% of the Eligible Balance once, after one year from account opening but before maturity.
For an account opened on behalf of a…
For an account opened on behalf of a minor girl, the guardian may apply for withdrawal for the minor's benefit by submitting the specified certificate to the accounts office.
When calculating a withdrawal amount, any fraction of…
When calculating a withdrawal amount, any fraction of a rupee is rounded off in the same way — fifty paise or more counts as a rupee, and less than fifty paise is dropped.
Benefits Provided
Mahila Samman Savings Certificate provides the following benefits to eligible applicants:
Investment Options:
Offers girls and women a secure, attractive place to invest.
Interest Rate: Carries a fixed 7.5% per annum interest, compounded quarterly.
Investment Limit: Deposits can go up to a ceiling of ₹2,00,000, with flexible investment options.
Tenure: The scheme runs for 2 years.
Interest Credit:
Interest, compounded quarterly, is credited to the account. Note:
Where an account or deposit does not conform…
Where an account or deposit does not conform to this Scheme's provisions, the interest payable to the holder is instead the rate applicable to a Post Office Savings Account.
Documents Required
Applicants should keep the following documents ready before starting the application:
Passport-size photograph
Passport-size photograph
Proof of age, such as a Birth Certificate
Proof of age, such as a Birth Certificate
Aadhaar Card
Aadhaar Card
PAN Card
PAN Card
Pay-in-slip along with the deposit amount, or a…
Pay-in-slip along with the deposit amount, or a cheque
Any one of the following is accepted as…
Any one of the following is accepted as a valid document for identification and address proof:
Passport
Driving licence
Voter's ID card
Job card issued under NREGA and signed by a State Government officer
A letter from the National Population Register bearing the person's name and address
2023-04-01
How to Apply
Offline Application
Applicants can apply for Mahila Samman Savings Certificate through the offline application process outlined below.
Application Process:
Visit the nearest Post Office Branch or a…
Visit the nearest Post Office Branch or a designated bank to collect the application form, or download it from the official website.
Complete the form and attach all required documents
Complete the form and attach all required documents.
Enter the declaration and nomination details
Enter the declaration and nomination details.
Submit the form along with the initial investment/deposit…
Submit the form along with the initial investment/deposit amount.
Collect the certificate, which serves as proof of…
Collect the certificate, which serves as proof of investment in the 'Mahila Samman Savings Certificate' scheme.
Note: A woman may open an account for herself, or a guardian may do so on behalf of a minor girl, on or before March 31, 2025.
Premature closure of account:
1. The account cannot be closed before maturity except in the following cases, namely:-
the account holder's death;
where the concerned post office or Bank is satisfied, on strongly compassionate grounds — such as the account holder needing medical treatment for a life-threatening illness, or the guardian's death — that keeping the account running is causing the holder undue hardship; in such cases, after full documentation, it may order premature closure for reasons recorded in writing.
2. Where an account is closed prematurely under sub-paragraph 1, interest on the principal is paid at the rate applicable to the Scheme for the period the account was held.
3. Premature closure may also be allowed, for any reason not covered under sub-paragraph 1, any time after six months from account opening — in which case the balance held from time to time earns interest at a rate 2% lower than the Scheme's specified rate.
4. When calculating the maturity value, any fraction of a rupee is rounded off — fifty paise or more counts as one rupee, and less than fifty paise is dropped.
Official Application & Website
Verify the latest eligibility, dates and instructions before applying.