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.
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