Mahila Samman Savings Certificate
State: Central
Ministry: Ministry Of Finance
Department: Department Of Economic Affairs
Category: Banking,Financial Services and Insurance, Women and Child
Beneficiary Type: Individual

The scheme aims to provide a secure savings option with assured returns for women. Through this scheme, 7.5% interest and flexible savings benefits are provided to women and minor girls.

Benefits:
- **Investment Options:** Provide attractive and secure investment options for girls and women.  - **Interest Rate:** Offers fixed interest of 7.5% per annum, compounded quarterly.  - **Investment Limit:** The maximum investment ceiling is ₹2,00,000 with flexible investment options.  - **Tenure:** The scheme has a duration of 2 years.

  - **Interest Credit:** Interest is compounded quarterly and credited to the account.
&gt; **Note:** 

  - The interest payable to the account holder in respect of any account opened or deposit made which is not in consonance with the provisions of this Scheme shall be payable at the rate applicable to the Post Office Savings Account.

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Eligibility:
- The applicants must have Indian citizenship.
  - This scheme is only for women and girl children.
  - Any Individual Woman can apply under the scheme.
  - The minor account can also be opened by the guardian.
  - There is no upper age limit, and women of all ages can avail the benefits of this scheme.

**Note:** An account opened under this Scheme shall be a single-holder type account.
&gt; **Deposits:**

  - An individual may open any number of accounts subject to the maximum limit for deposit and a time gap of three months shall be maintained between the existing account and the opening of other accounts.
  - A minimum of ₹1000/- and any sum in multiples of one hundred rupees may be deposited in an account and no subsequent deposit shall be allowed in that account.
  - A maximum limit of ₹2,00,000/- shall be deposited in an account or accounts held by an account holder.

&gt; **Payment on maturity:**

  - The deposit shall mature on completion of two years from the date of the deposit and the Eligible Balance may be paid to the account holder on maturity.
  - In calculating the maturity value, any amount in fraction of a rupee shall be rounded off to the nearest rupee, and for this purpose; any amount of fifty paisa or more shall be treated as one rupee, and any amount less than fifty paisa shall be ignored.

&gt; **Withdrawal from account:**

  - The account holder shall be eligible to withdraw a maximum of up to 40% of the Eligible Balance once after the expiry of one year from the date of opening of the account but before the maturity of the account.
  - In case of an account opened on behalf of a minor girl, the guardian may apply for the withdrawal for the benefit of the minor girl by submitting the specified certificate to the accounts office.
  - In calculating the withdrawal from the account, any amount in fraction of a rupee shall be rounded off to the nearest rupee, and for this purpose; any amount of fifty paisa or more shall be treated as one rupee, and any amount less than fifty paisa shall be ignored.

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Application Process:
[Offline]
Application Process:Step 1: The applicant can visit the nearest Post Office Branch or a designated bank to collect the application form or download it from the official website.
Step 2: Fill out the application form and attach all the required documents.
Step 3: Fill out the declaration and nomination details.
Step 4: Submit the application form with the initial amount of investment/deposit.
Step 5: Receive the certificate that serves as proof of investment in the ‘Mahila Samman Savings Certificate’ scheme.
Note: An application for opening an account under this Scheme shall be made by a woman for herself, or by the guardian on behalf of a minor girl on or before March 31, 2025. 
Premature closure of account:1. The account shall not be closed before maturity except in the following cases, namely:-
•	on the death of the account holder;
•	where the post office or the Bank concerned is satisfied, in cases of extreme compassionate grounds such as medical support in life-threatening diseases of the account holder or death of the guardian, that the operation or continuation of the account is causing undue hardship to the account holder, it may, after complete documentation, by order and for reasons to be recorded in writing, allow premature closure of the account.
2. Where an account is prematurely closed under sub-paragraph 1, interest on principal amount shall be payable at the rate applicable to the Scheme for which the account has been held.
3. Premature closure of an account may be permitted, any time after the completion of six months from the date of opening of an Account, for any reason other than provided under sub-paragraph 1, and in which case the balance as stood from time to time in the account shall be eligible only for the interest rate less by 2% than the rate specified in this Scheme.
4. In calculating the maturity value, any amount in fraction of a rupee shall be rounded off to the nearest rupee and for this purpose; any amount of fifty paisa or more shall be treated as one rupee and any amount less than fifty paisa shall be ignored.

Documents Required:
1.	Passport size photograph
2.	Proof of age, i.e. Birth Certificate
3.	Aadhaar Card
4.	PAN Card
5.	Pay-in-Slip along with deposit amount or cheque
6.	The following documents are accepted as valid documents for the purpose of identification and address proof:
Passport
Driving license
Voter’s ID card
Job card issued by NREGA signed by the State Government officer 
Letter issued by the National Population Register containing details of name and address