Mahila Samman Financial savings Certificates is a one-time authorities financial savings scheme to empower ladies in India. The scheme was launched by the Division of Financial Affairs, Ministry of Finance to offer monetary safety to each lady and girl in India.
The Division of Financial Affairs, Ministry of Finance, via an e-gazette notification issued on June 27, 2023, permitted all Public Sector Banks and eligible Non-public Sector Banks to implement and operationalise this scheme.
This goals at enabling enhanced entry to the scheme for women/ladies. With this, the ‘Mahila Samman Financial savings Certificates’ scheme will now be out there for subscription in Publish Workplaces, and eligible Scheduled Banks. The scheme has been in operation since April 1, 2023, via the Division of Publish and is legitimate for 2 years as much as March 31, 2025.
Listed here are just a few key particulars of the Mahila Samman Financial savings Certificates:
>>Engaging and secured funding choices.
>>An account may be opened beneath this scheme on or earlier than March 31, 2025, for a tenure of two years.
>>The deposit made beneath the scheme will bear curiosity on the fee of seven.5 per cent each year which will probably be compounded quarterly.
>> Minimal of Rs 1,000 and any sum in a number of of 100 could also be deposited inside the most restrict of Rs 2,00,000.
>> The maturity of the funding beneath this scheme is 2 years from the date of opening of the account beneath the scheme.
>> It envisions flexibility not solely in funding but additionally in partial withdrawal in the course of the scheme tenor. The account holder is eligible to withdraw a most of as much as 40 per cent of the eligible steadiness within the scheme account.
What will probably be your maturity quantity on the Rs 1 lakh funding?
If one invests Rs 1 lakh for 2 years in Mahila Samman Financial savings Certificates then she’s going to get Rs 1,16,022 at maturity.
What will probably be your maturity quantity on the Rs 2 lakh funding?
If one invests Rs 2 lakh for 2 years in Mahila Samman Financial savings Certificates then she’s going to get Rs 2,32,044 at maturity.
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