MAHILA SAMMAN SAVINGS CERTIFICATE (Syllabus: GS Paper 2 – Govt. Policies)

Context: The Centre is unlikely to extend the Mahila Samman Savings Certificate scheme beyond its March 2025 deadline, according to official sources.

Mahila Samman Savings Certificate Scheme:

• About: It is a risk-free scheme tailored for women and girls of all ages.
• Launched by: Department of Economic Affairs, Ministry of Finance.
• Announced: Budget 2023-24
• Tenure: 2 Years
• Deposit Limits: Minimum deposit is Rs 1,000, and any sum in multiples of Rs 100 can be deposited, with a maximum limit of Rs 2 lakh.
• Eligibility:

o Individual Women: Any individual woman can open an account.

o Minor Accounts: Guardians can open accounts on behalf of minor girls.

• 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.
• Benefits:

o The scheme provides attractive and secure investment options to all girls and women.

o The scheme offers an attractive and fixed interest of 7.5% interest compounded quarterly with flexible investment and partial withdrawal options with a maximum ceiling of ₹2,00,000/-.