MSSC Scheme(Mahila Samman Savings Certificate Scheme) 2024, Apply Online, Interest Rate

MSSC Scheme:- The administration has launched a new initiative to support women living in the state. April 1, 2023, saw the commencement of the MSSC Mahila Samman Savings Certificate Scheme 2024. It would remain active for two years. Before beginning the application procedure, female nationals must verify their eligibility for the Mahila Samman Bachat Patra Scheme 2024. You must adhere to the guidelines provided on this page on How to Apply for MSSC Yojana 2024. 7.5% is the set MSSC Yojana Interest Rate for 2024. We have included information on the MSSC Scheme Features 2024 as well as the Mahila Samman Savings Certificate Scheme Benefits 2024 in this post. To apply for the program online, one must go to the post office.

MSSC Yojana 2024 Features

You can review the features of the Mahila Samman Savings Certificate Scheme 2024 shown below.

• Because the MSSC Scheme 2024 is funded by the government, returns on investment are assured.
• One rupee is the bare least that can be given. 1000, you can make it in multiples of 100.
• The investment cap of Rs. 200000 will never be surpassed.
• The investment is only for a two-year period.
• Quarterly credit to the holder’s account will accompany the investment, which has an annual interest rate of 7.5%.

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MSSC Scheme Eligibility 2024

The program is exclusively available to female nationals. The underage girl child’s guardian may open the account on her behalf. It is widely recognized that the Mahila Samman Bachat Patra Scheme Eligibility 2024 is exclusively open to women in the country. The plan is for two years, thus the account must be opened by March 31, 2025, at the latest.

Mahila Samman Savings Certificate Scheme Interest 2024

Given that they must invest up to Rs. 20,000,000, women in the nation will get interest on their investments. The MSSC Yojana Interest 2024 has an annual rate of 7.5%. The interest rate remains the same regardless of the method of investment—bank or post office. Quarterly compounding of the interest amount will occur when it is credited to the holder’s account.

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MSSC Scheme Partial Withdrawal 2024

The Mahila Samman Savings Certificate Scheme 2024 allows participants to withdraw a sizeable amount of their investment. The Mahila Samman Bachat Patra Scheme allows for a maximum withdrawal of 40% of the total investment amount in 2024. Until the account has been open for a full year, the funds are locked in. This plan offers no tax benefits, therefore making the withdrawal simple and problem-free.

Mahila Samman Savings Certificate Scheme Registration 2024

The Indian government has introduced a new program called the Mahila Samman Savings Certificate Scheme in the Union Budget for 2024–2025. April 1, 2023, saw the launch of the most recent program, which aims to assist the state’s female population. A small savings program was launched to encourage women to make investments. With the most recent chance, women can invest up to Rs. 2 lakh in any government or private bank, or Post Office, for a two-year term. They will now receive a 7.5% annual interest rate on their investment, compounded and credited every three months. Either the woman or a legal guardian must open the account on behalf of a minor child.

Under the MSSC 2024 one-time program, women in the nation must deposit a minimum of Rs 1000 over a two-year period. There is no credit risk because the government is funding the program. There is a minimum deposit of Rs 1000, payable in multiples of Rs 100. The maximum is limited to 2 lakh. A qualified woman or the guardian of a little female child may even open a second account, although at least three months must pass after the original account’s opening date. The creation of an account is unrestricted by geography because all banks provide the same interest rate. Opening an account requires submitting the required paperwork. To learn more about the benefits of the Mahila Samman Savings Certificate Scheme in 2024, one should read through the entire program.

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 qualified private sector banks to implement the Mahila Samman Savings Certificate scheme. The following is a list of eligible banks that are providing this scheme:

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

Mahila Samman Savings Certificate Calculation

Let’s examine the advantages of registering for an account with a Mahila Samman Savings Certificate. Assuming you invest Rs. 2,00,000 in the scheme, you will receive an annual interest rate of 7.5%. Consequently, you will receive interest on the principal amount of Rs. 15,000 in the first year and Rs. 16,125 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.

How to Apply For Mahila Samman Bachat Patra Yojana 2024?

The application for the MSSC Scheme 2024 requires the offline technique. People have two options for applying: through banks or through post offices. To finish the online applications for the investment scheme, you need to do the following.

• Go to the bank or post office closest to you.
• Now take the application form for the MSSC Scheme from the counter.
• Please enter the requested information correctly in the fields provided.
• Now give us all the KYC documents that we require.
• Following payment of the investment amount, you will receive a pay slip with the deposit amount on it.

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Documents Needed For MSSC Scheme Application 2024

Entire the Mahila Samman Bachat Patra Yojana 2024 application by sending in the previously given documents.

• Aadhar Card
• Voter ID
• Driving License
• PAN Card
• Application Form
• KYC form of New Account Holders
• Pay In Slip.

FAQ’s

Q. When did the MSSC Scheme 2024 launch?

Ans- April 1, 2023, saw the release of the MSSC Scheme 2024.

Q. How long will MSSC Yojana 2024 last?

Ans- MSSC Yojana 2024 has a two-year duration.

Q. What is the Mahila Samman Bachat Patra Scheme 2024 investment value?

Ans- Under the Mahila Samman Bachat Patra Scheme 2024, the minimum and maximum investment amounts are Rs 1000 and Rs 2 Lakh, respectively.

Q. What is the MSSC Scheme 2024 interest rate?

Ans- Under the MSSC Scheme 2024, a quarterly interest rate of 7.5% per year will be provided.

Q. What is the MSSC Yojana 2024 withdrawal cap?

Ans- Under MSSC Yojana 2024, 40% of the entire investment may be withdrawn up to a year from the account opening date.

Q What are the 2024 Benefits of the Mahila Samman Savings Certificate Scheme?

Ans- The aforementioned item contains a detailed breakdown of the Mahila Samman Savings Certificate Scheme’s benefits through 2024.

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