June 15, 2024 02:56 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Delhi LG approves prosecution of Arundhati Roy, Sheikh Showkat Hussain in 2010 provocative speech case | BS Yediyurappa, accused of harassing minor, can't be arrested till next hearing: Karnataka HC | PM Modi meets Meloni, Macron, Zelenskyy and Pope as part of mega outreach program in Italy | NEET-UG 2024: Supreme Court issues notice to Centre, NTA on pleas seeking CBI probe into paper leak | BJP worshipped Lord Ram but stopped at 241 due to arrogance, says RSS leader days after Mohan Bhagwat's veiled attack on Modi's party
Post office's Mahila Samman Saving Certificate scheme: Women will get Rs 2.32 lakh in just two years
MSSC Scheme
Photo courtesy: File image from Wikimedia Commons

Post office's Mahila Samman Saving Certificate scheme: Women will get Rs 2.32 lakh in just two years

| @indiablooms | 28 May 2024, 12:24 pm

New Delhi/IBNS: The Government of India has been running many schemes to help the people of the country, especially the women, youth and senior citizens, and most of the government schemes are being operated from the post office.

Post office is running a similar small savings scheme --  Mahila Samman Saving Certificate (MSSC) -- which will yield Rs 2.32 lakh in just two years.

The MSSC Scheme was launched by the government to provide financial help to women.

Under this scheme, women can deposit from Rs 1,000 to Rs 2 lakh, but money deposited should be in multiples of 100 only.

Under this scheme, multiple accounts can be opened, but the deposit amount should not exceed a maximum of Rs 2 lakh.

There should be a gap of three months in the date of opening the second account under the MSSC scheme.

The interest rate on MSSC scheme is 7.5 percent per annum, but the interest is deposited on a three-monthly basis.

MSSC scheme's maturity period is only two years, but after one year from the date of deposit, a maximum of 40 percent of the remaining money can be withdrawn, however, the partial withdrawal facility is available only once before maturity.

If a depositor invests a maximum of Rs 2 lakh in this scheme, she will get an interest of Rs 32044 at the rate of 7.50 percent, and in such a situation, a total of Rs 2,32,044 is given on maturity in two years.

However, in case of death of the account holder, the nominee or family members can withdraw this deposited amount, while the money can be withdrawn for medical help in case of life-threatening illnesses.

After withdrawing money, a depositor can also close the account.

The government also allows depositors to close the account after six months of opening.

However, in such a situation, the account holder will be given money at less than 2 percent interest.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.