MSSC Scheme: If you are looking for better returns on your savings, the Indian Government’s ‘Mahila Samman Bachat Patra Yojana’ can be a great and attractive option for you. This is a short-term savings scheme that has been launched specifically with women in mind. If you want to become financially independent and are looking for better returns, this scheme could be beneficial for you. Let’s learn more about this scheme and how it can help secure your future.
What is the Mahila Samman Saving Certificate Scheme?
The Mahila Samman Bachat Patra Yojana is a scheme launched by the Government of India to promote financial security and independence for women. Under this scheme, women can invest up to ₹2 lakh. This scheme encourages women to make small savings, while offering 7.5% annual interest, which is very attractive compared to many other savings schemes. Additionally, this scheme has a duration of 2 years, making it an excellent short-term investment option.
Advantages of the MSSC Scheme
This scheme offers women the opportunity to earn good returns on their savings. Through this scheme, women can safely grow their small amounts of money, and its interest rate makes it more attractive than many other savings options. The main goal of this scheme is to make women financially independent so that they can manage their financial situation confidently.
In this scheme, you get the opportunity to invest at a fixed interest rate for 2 years. The 7.5% interest rate and the 2-year lock-in period encourage women to save for a longer time.
Where to Open an Account?
Opening a Mahila Samman Bachat Patra account is very easy. You can open this account at any Post Office or Bank. Both Post Offices and Banks support this scheme, making it accessible for women everywhere. You just need to submit your identification and a few basic documents.
How Much Return Will You Get?
Let’s understand how much return you can get with this MSSC scheme through an example:
If a woman invests ₹2,00,000 as a lump sum in this scheme for 2 years, she will earn ₹32,044 as interest. After 2 years, her total fund will amount to ₹2,32,044. This clearly shows that by investing in this scheme, you can get a decent return.
This return is predetermined, so you don’t have to worry about any changes during the investment period. You simply benefit from a fixed interest rate, and your amount keeps growing. Through this scheme, women can not only keep their savings safe but also increase them with a good return.
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