Mahila Samman Savings Certificate (MSSC) Deposit Limit, Interest Rate, Tenure and Benefits – Explained

During the Budget 2023 speech, the FM has proposed an investment scheme for Women investors.

Budget 2023, Mahila Samman Saving Certificate, MSSC scheme, Deposit Limit, Interest Rate, Tenure, Benefits, Union Budget 2023 India, Budget 2023 India, Budget 2023-24, Nirmala Sitharaman, Finance Minister
An investment scheme for Women investors has been proposed to be increased in the Union Budget 2023-24.

Union Minister of Finance Nirmala Sitharaman while presenting Budget 2023 has proposed to introduce an investment scheme for Women investors. For commemorating Azadi Ka Amrit Mahotsav, a 1-time new small saving scheme Mahila Samman Savings certificate will be available for a 2-year period up to March 2025.

This will offer deposit facility up to Rs 2 lakh in the name of women or girls for a tenor of 2 years at fixed interest rate of 7.5 per cent with partial withdrawal option. (Also Check: New Tax Regime Calculator)

“This newly introduced women-oriented scheme will help women investors to start investing for their short-term financial goals and needs. Compared to other small savings schemes like Sukanya Samriddhi Yojna which has a maximum investment limit of Rs 1.5 lakhs in a financial year, and also has a long lock-in period of 21 years, the Mahila Samman Savings Certificate provides an opportunity to invest up to Rs 2 lakhs for a tenure of 2 years, making it a better investment option for female investors,” says CA Manish P. Hingar, Founder at Fintoo.

Also ReadBudget 2023: FM proposes to make New Tax Regime a default option – Should you opt?

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First published on: 01-02-2023 at 12:28 IST