The Mahila Samman Savings Certificate Scheme: Encouraging Women’s Investments

To encourage women’s involvement in the realm of investing and advance financial inclusion, the Mahila Samman Savings Certificate is a specific investment program. It is necessary to investigate this plan in further detail.

What Is Mahila Samman Savings Certificate Scheme?

The Mahila Samman Savings Certificate, a novel opportunity for women to save money, was introduced in Budget 2023. Through this program, the government hopes to encourage women’s financial engagement and empowerment.

This government-sponsored program is a one-time savings plan with a fixed interest rate of 7.5 percent. The program will be open for investment for a two-year period, starting on April 1, 2023, and ending on March 31, 2025, during which time interested investors may join.

EligibilityAny women, including minor
Interest rate7.50%
Minimum investmentRs 1,000
Maximum investmentRs 2 lakh (combined in all accounts)
Maturity period2 years

Mahila Samman Savings Certificate Scheme: Features

An investment program supported by the government that gives a guaranteed rate of return is the Mahila Samman Savings Certificate. Investors should not be concerned about market volatility with this strategy because their returns are guaranteed.

There is a Rs. 1,000 minimum investment requirement, and further deposits are not permitted. A maximum of Rs. 2 lakh may be invested in a single account or several accounts.

This scheme allows for the opening of several accounts, but the total investment amount cannot exceed Rs. 2 lakh, and there must be a three-month interval between the opening dates of the new account and the old account. The scheme has a two-year lock-in period after which the maturity amount is paid.

After a year has passed after the account’s establishment, a partial withdrawal of up to 40% of the qualified balance is permitted. Premature closure is allowed in several situations, such as when the account holder passes away, when they are diagnosed with a life-threatening illness, and when their guardian passes away, among others.

Additionally, investors have the option of closing the account for any reason after six months, although the interest rate will drop by 2% to 5.5%. The program is only available to women, and any woman above the age of 18 may independently invest in it. Minors’ guardians may open the account on their behalf.

Mahila Samman Savings Certificate Scheme: Eligibility

Only women investors are allowed to participate in this plan. As a result, any woman who is 18 years old or older may independently invest in this scheme. Additionally, guardians are permitted to open accounts on behalf of young girls.

Mahila Samman Savings Certificate Scheme: Tax Benefits

Small-savings plans normally have tax advantages, but the government hasn’t given any details about how this plan will affect taxes. It is reasonable to presume that the plan will be taxed at the usual slab rate until more information is made available.

How is the Mahila Samman Savings Certificate Scheme Better Than Other Schemes?

BasisMahila Samman Savings CertificatePublic Provident Fund (PPF)Sukanya Samridhi Yojana (SSY)
EligibilityWomen, including minorAny Indian citizenGirl child up to 10 years age
Interest rate7.50%7.1%8%
Deposit limitMinimum Rs 1,000 and maximum Rs 2 lakhMinimum Rs 500 and maximum Rs 1.5 lakhMinimum Rs 250 and maximum Rs 1.5 lakh
Maturity2 years15 yearsAfter 21 years from the date of account opening or on marriage at 18 years of age
Partial withdrawalUp to 40% of balance after one yearUp to 50% of balance after seven yearsUp to 50% of balance at 18 years of age. Only for marriage or education.
Tax benefitsNot yet specifiedEligible for deduction under Section 80CEligible for deduction under Section 80C

How To Open a Mahila Samman Savings Certificate Account?

India Post provides the Mahila Samman Savings Certificate Scheme. Here is a guide on how to invest in this scheme:

(1) Visit your nearest post office. 

(2) To invest in the scheme, you need to fill out Form I, which can be obtained from the post office counter or downloaded from the India Post website. The completed form must be submitted before March 31, 2025.

(3) If you are a new account holder in Indian Post, you must also submit the KYC form.  

(4) You must provide KYC documents such as your Aadhaar card, PAN, address proof, etc. 

(5) Deposit investment amount by cash or cheque. 

Upon submitting the completed form and making the payment, the post office will provide you with a scheme certificate.

Mahila Samman Savings Certificate Scheme – FAQs

Q1: Is Mahila Samman Savings Certificate Scheme tax-free?

Ans: The government has not yet provided any information regarding its taxability. It follows that the Mahila Samman Savings Certificate cannot be considered tax-free. This means that investing in it is not tax deductible in any way. Additionally, the interest received will be taxed.

Q2: What is the benefit of Mahila Samman Savings Certificate Scheme Certificate?

Ans: Women investors only are eligible to purchase Mahila Samman Savings Certificates. For two years, it offers a guaranteed return of 7.50%, which is more than comparable savings plans.

Q3: Which financial institute offers Mahila Samman Savings Certificate?

Ans: The Indian Post alone offers the Mahila Samman Savings Certificate. As a result, banks are not an option for investing in this programme.


  • Pritipalit

    Priti Palit, an accomplished edtech writer, boasts a wealth of experience in preparing candidates for multiple government exams. With a passion for education and a keen eye for detail, she has contributed significantly to the field of online learning. Priti's expertise and dedication continue to empower aspiring individuals in their pursuit of success in government examinations.

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