Mahila Samman Savings Certificate Compare

Additional Useful Information

• The account can be opened by a woman for herself or a guardian on behalf of a minor girl.

• The minimum amount required to open and maintain this scheme is ₹1,000.

• The maximum investment limit under this scheme is ₹2,00,000 in an account.

• The maturity period of the Mahila Samman Savings Certificate account is two years.

• A woman or guardian of a girl child can open a second Mahila Samman Savings Certificate account after a minimum gap of three months from the opening of an account.

• A 40% withdrawal of the balance can be taken after one year from the date of account opening.

• If the account is closed after six months of opening without any specified reason, an interest of 5.5% will be provided.

• This investment is suitable for investors with a low-risk appetite and those who want regular income with negligible risk.

Returns *

• The Mahila Samman Savings Certificate Scheme guarantees returns.

• Interest will be compounded quarterly and credited in the account and paid at the closure of the account.

• Currently, 7.5% interest per year can be earned in this mode of investment.

Risk Level

• Mahila Samman Savings Certificate is a very low risk investment option as it is backed by the government of India.

• This means that deposits in a Mahila Samman Savings Certificate are safe and secure since the government can never default.

Liquidity

• Mahila Samman Savings Certificate is illiquid. It has a 2-year lock in period. However, 40% of the balance can be withdrawn after a year of opening the account.

Interesting Facts

• There is flexibility of transferring this scheme from one post office to another.

• This scheme does not enjoy any tax benefits.

Tax Implications

• This scheme is taxable.

• Any interest that investors receive is added to their taxable income and they need to pay tax according to their income slab.

Where To Invest

• https://www.indiapost.gov.in/Financial/pages/content/post-office-saving-schemes.aspx