Mahila Samman Scheme, महिलाओं को हर महीने मिलेंगे 1000 रुपए, यहाँ देखें पूरी जानकारी

Mahila Samman Scheme, The Mahila Samman Saving Certificate, 2023, is available in post offices as of January 4, 2023, and offers an annual interest rate of 7.5%. In her 2023–2024 Budget Speech, Union Finance Minister Smt. Nirmala Sitharaman introduced a new small savings scheme for women and girls called the Mahila Samman Saving Certificate. We launched the Mahila Samman Savings Certificate initiative in observance of Azadi ka Amrit Mahotsav. April 2023–March 2025 is when the two-year Mahila Samman Savings Certificate program is offered. For a maximum of two years at a set interest rate, it will permit women or girls to deposit up to Rs. 2 lakh.

What is the Mahila Samman Savings Certificate

The government launched the Mahila Samman Savings Certificate program to encourage and enable women to save money and establish their own financial independence. The plan is intended to provide women with a two-year, fixed-interest deposit facility up to Rs 2 lakh in their names.

Also Read: PMEGP Scheme Details, digitizeindiagovin.com, Typingspeedtestonline, Nebsit Council

Features of Mahila Samman Savings Certificate

The Mahila Samman Savings Certificate, 2024 has the following features:

Government-Backed Scheme

The government supports the Mahila Samman Savings Certificate program, which is a modest savings plan. It has no credit risk as a result.

Eligibility

Only female children or women may apply for the Mahila Samman Savings Certificate. A Mahila Samman Saving Certificate program can be opened by a woman or the guardian of a minor girl child.

Deposit Limits

The Mahila Samman Savings Certificate requires a minimum deposit of one thousand rupees, expressed in multiples of one hundred. An account user may deposit up to Rs. 2 lakh into any one or all of their Mahila Samman Savings Certificate accounts. After at least three months have passed since the opening of the first Mahila Samman Savings Certificate account, a woman or the guardian of a girl child may open a second one.

Maturity

The Mahila Samman Savings Certificate account has a two-year maturity period. As a result, the account holder will get the maturity amount two years following the account opening date.

Withdrawal

The Mahila Samman Saving Certificate program offers a partial withdrawal option. After a year from the account opening date, the account holder is permitted to withdraw up to 40% of the account amount.

Interest Rate of Mahila Samman Savings Certificate

This plan offers a fixed interest rate of 7.5% per annum, which is significantly greater than that of the majority of bank fixed deposits (FDs) and other well-known small savings plans. The interest will be paid when the account is closed and credited on a quarterly basis.

Benefits of the Mahila Samman Saving Certificate Scheme

• Because this program is supported by the government, investing in it is safe.
• It is a wonderful investment option for women and girls because it offers a high interest rate of 7.5% p.a.
• The scheme has a two-year duration.
• In some cases, this plan also offers the option of an early withdrawal.
• Through this program, women and girls can increase their money and achieve financial independence.

Tax Benefits of the Mahila Samman Saving Certificate Scheme

Under this plan, the interest received is not subject to Tax Deducted at Source (TDS). Nonetheless, CBDT informed the Mahila Samman Saving Certificate Scheme that TDS would be applicable. TDS shall only be applied in accordance with Section 194A of the Income Tax Act if the interest earned from the post office savings plan for a fiscal year exceeds Rs. 40,000 or Rs. 50,000 (for senior persons). TDS is not subtracted from the income earned under the Mahila Samman Saving Certificate Scheme since the interest amount for a maximum investment of Rs. 2 lakh over two years does not exceed Rs. 40,000.

Premature Closure of Mahila Samman Savings Certificate

In the following circumstances, the Mahila Samman Savings Certificate account may be terminated before the two-year mark:

• Six months after creating the account without providing a rationale. An interest rate of 5.5% will be applied in this situation.
• Upon the account holder’s passing. Interest will be paid on the principal amount in this situation.
• When there is a grave humanitarian need, like when the account holder has a serious illness.
• Death of the guardian upon presenting the necessary paperwork. Interest will be paid on the principal amount in this situation.

Also Read: C Scheme Cafe, Mobilenumbertrackeronline, indnewsupdates.com, ssorajasthanidlogin.com

Banks Offering Mahila Samman Savings Certificate

Through an e-gazette statement on June 27, 2023, the Department of Economic Affairs, Ministry of Finance, allowed all public sector banks and eligible private sector banks to run the Mahila Samman Savings Certificate scheme. The following is a list of banks that are eligible to provide this scheme:

• Bank of Baroda
• Canara Bank
• Bank of India
• Punjab National Bank
• Union Bank of India
• Central Bank of India

How to Open a Mahila Samman Savings Certificate?

Post offices and eligible scheduled banks allow women and guardians of a girl child to open a Mahila Samman Savings Certificate scheme.

Opening of Mahila Samman Savings Certificate at the post office:

• On the official Indian Post website, download the “Application for purchasing the certificate. The form is also available at the Post Office location that is closest to you.
• In the To The Postmaster field, enter the Post Office address.
• In the designated field, enter your name and refer to the account as Mahila Samman Savings Certificate.
• Complete the payment, account type, and personal information fields.
• Complete the nomination and declaration forms.
• Send in the form together with the necessary paperwork.
• Make a cash or cheque deposit at the post office.
• Get the document attesting to your investment in the Mahila Samman Savings Certificate program.

Opening of Mahila Samman Savings Certificate at Banks

• Get the Mahila Saman savings certificate application by going to the bank that is offering this system.
• Whole the application is shaped with the essential data.
• Complete the nomination and announcement forms.
• Ship the finished shape and the essential office work to the bank’s department workplace.
• Make a deposit into the bank officials’ scheme starting an account.
• Get the file testifying for your investment in the Mahila Samman savings certificate program.

Documents Required for Mahila Samman Savings Certificate Account

• Application form
• KYC documents, such as an Aadhaar card, Voter ID, driving license and PAN card
• KYC form for new account holders
• Pay-in-Slip along with deposit amount or cheque

Mahila Samman Savings Certificate Calculation

Let’s examine the advantages of creating an account with the Mahila Samman Savings Certificate. If you invest Rs. 2,000,000 under the scheme, you will receive interest that is set at 7.5% per year. Therefore, you will receive Rs. 15,000 in interest on the principal amount in the first year and Rs. 16,125 in interest in the second. As a result, you will receive 2,31,125 at the conclusion of the two-year period (2,00,000 for the initial investment plus 31,125 for interest). Thus, you would receive Rs. 2,31,125 as your maturity amount after two years.

Mahila Samman Savings Certificate Vs Other Small Savings Schemes

The government has made numerous small savings plans available to citizens as tools for investing. Public Provident Fund (PPF), National Savings Certificate (NSC), Senior Citizens Small Savings Scheme (SCSS), and Sukanya Samriddhi Yojana (SSY) are the most well-known savings plans. Let’s examine how the Mahila Samman Savings Certificate stacks up against other small savings plans.

PPF Vs Mahila Samman Savings Certificate

Particulars	Mahila Samman Savings Certificate	PPF
Eligibility	Women and girl children	Any individual Indian citizen
Interest Rate	7.5%	7.1%
Tenure	2 years	15 years
Deposit Limit	Minimum – Rs.1,000 Maximum – Rs.2 lakh	Minimum – Rs.500 Maximum – Rs 1.5 lakh
Premature Withdrawal	Permits 40% withdrawal after one year	Permits partial withdrawal after 7 years
Tax Benefit	No tax deduction under Section 80C	Exempt-Exempt-Exempt (EEE) category under Section 80C category

Also Read: DDA Housing Scheme, shaladarpanportalgov.com, yojanaforall.com, Onlinereferjobs

NSC Vs Mahila Samman Savings Certificate

Particulars	Mahila Samman Savings Certificate	NSC
Eligibility	Women and girl children	Any individual, including NRIs
Interest Rate	7.5%	7.7%
Tenure	2 years	5 years
Deposit Limit	Minimum – Rs.1,000 Maximum – Rs.2 lakh	Minimum – Rs.100 Maximum – No limit
Premature Withdrawal	Permits 40% withdrawal after one year	Allowed in certain circumstances
Tax Benefit	No tax deduction under Section 80C	Deductions of up to Rs.1.5 lakh under Section 80C

Faq’s

Q. The Mahila Samman Savings Certificate program: what is it?

Ans: The government created this one-time small savings plan for women with a two-year maturity period. A maximum of Rs. 2 lakh can be deposited into this account by a woman or the guardian of a girl child. The interest rate on the Mahila Samman Savings Certificate is 7.5% annually.

Q. What is the Mahila Samman Savings Certificate’s interest rate?

Ans: The interest rate is 7.5% p.a., paid when the account is closed, and is credited quarterly.

Q. Is there no tax on Mahila Samman?

Ans: No, the investment placed in the Mahila Samman Saving Certificate under Section 80C is not eligible for a tax deduction. However, no TDS is subtracted from the interest amount because the interest collected under this program is less than Rs. 40,000.

Q. How can I make Mahila Samman Yojana investments?

Ans: By opening an account with the post office or one of the approved scheduled banks that provide this program, you can invest in the Mahila Samman Savings Certificate. By downloading the application from the India Post or the relevant bank website, filling it out, and bringing it to the closest Post Office or bank branch, you can start a Mahila Samman Savings Certificate account.

@PAY