Saving Scheme: Union Finance Minister Nirmala Sitharaman had announced Mahila Samman Savings Certificate in her budget speech 2023-24. This scheme is a new small savings scheme for women and girls. Mahila Samman Savings Certificate Scheme was announced on the occasion of Amrit Mahotsav of Independence.
Mahila Samman Saving Certificate: Many schemes are being run by the Modi government for the people. In these schemes, help is being provided to different categories of people. At the same time, a year before the Lok Sabha elections, the Modi government has launched an important scheme scheme. While presenting the Budget 2023 regarding this scheme, an announcement was also made by Finance Minister Nirmala Sitharaman. Actually, now a scheme has been launched by the Modi government for special women.
Women’s Honor Savings Certificate
Union Finance Minister Nirmala Sitharaman had announced Mahila Samman Savings Certificate in her budget speech 2023-24. This scheme is a new small savings scheme for women and girls. Mahila Samman Savings Certificate Scheme was announced on the occasion of Amrit Mahotsav of Independence. The Mahila Samman Savings Certificate launched by the Modi government has started from April 1, 2023. In this scheme, the interest rate of 7.5% per annum is available from the government.
Itni Saal Ki Yojana
Mahila Samman Savings Certificate is a one time scheme available for two years from April 2023 to March 2025. It will provide the facility of depositing up to a maximum of Rs 2 lakh for two years in the name of women or girls at a fixed rate of interest. Mahila Samman Savings Certificate can be made only in the name of girl child or woman. The guardian of a woman or a minor girl child can open the Mahila Samman Savings Certificate Scheme.
Deposit amount
On the other hand, the minimum deposit amount under Mahila Samman Savings Certificate is Rs.1000 in multiples of one hundred rupees. The maximum deposit amount in one account or in all Mahila Samman Savings Certificate accounts of the account holder should not exceed Rs.2 lakh. The guardian of a woman or girl child can open another Mahila Samman Savings Certificate Account after a gap of at least three months from the date of opening the existing account.
Withdrawal
The maturity period of Mahila Samman Savings Certificate Account is two years. Thus the maturity amount will be paid to the account holder after two years from the date of opening of the account. Partial withdrawal facility is provided under Mahila Samman Savings Certificate Scheme.
The account holder can withdraw up to 40% of the account balance after one year from the date of account opening. Small savings schemes are generally eligible for tax benefits under section 80C of the Income Tax Act. However, the taxation structure of this scheme has not been specified yet.
