The Mahila Samman Savings Certificate is a government-backed savings scheme offered by the Indian Post Office. This scheme is specifically designed to empower and promote financial independence among women in India. While I don’t have specific information about the 2023 version of the scheme, I can provide you with some general details about the Mahila Samman Savings Certificate.
The Mahila Samman Savings Certificate typically offers a competitive interest rate and provides a safe and secure investment option for women. It allows individuals to invest a certain amount of money for a fixed period, which earns interest over time. These certificates are available in various denominations to suit different investment needs.
One of the key features of the Mahila Samman Savings Certificate is that it offers interest at the rate of 7.5 percent per annum, making it an attractive investment option for individuals looking to earn a high rate of interest.
To get more detailed and up-to-date information about the Mahila Samman Savings Certificate scheme in the post office, I recommend visiting your nearest post office branch or checking the official website of the Indian Postal Department. They will be able to provide you with the latest information, including the specific terms and conditions, eligibility criteria, and application process for the scheme.
MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION
New Delhi, the 31st March 2023
G.S.R.237(E).— In exercise of the powers conferred by section 3A of the Government Savings Promotion Act, 1873 (5 of 1873), the Central Government hereby makes the following Scheme, namely:-
1. Short title and commencement.– (1) This Scheme may be called the Mahila Samman Savings Certificate, 2023. (2) It shall come into force on the date of its publication in the Official Gazette.
2. Definitions.– (1) In this Scheme, unless the context otherwise requires,
(a) “account” means an account opened under this Scheme;
(b) “account holder” means a girl or woman in whose name the account is held
(c) “Act”meanstheGovernmentSavingsPromotionAct,1873(5of1873);
(d) “Form”meansaformappendedtothisScheme;
(e) “GeneralRules”meanstheGovernmentSavingsPromotionGeneralRules,2018;
(f) “year” means a period of twelve months commencing from the date of deposit in the
account.
3. Application for opening an account.– (1) An application for opening an account under this Scheme shall be made by a woman for herself, or by the guardian on behalf of a minor girl to the Account Office in Form – I, on or before the 31st March 2025.
(2) An account opened under this Scheme shall be a single-holder type account.
4. Deposits.– (1) An individual may open any number of accounts subject to the maximum limit for deposit specified in sub-paragraph (3) and a time gap of three months shall be maintained between the existing account and the opening of other accounts.
(2) A minimum of one thousand rupees and any sum in multiples of one hundred rupees may be deposited in an account and no subsequent deposit shall be allowed in that account.
(3) A maximum limit of two lakh rupees shall be deposited in an account or accounts held by an account holder.
5. Interest.- (1) The deposits made under this Scheme shall bear interest at the rate of 7.5 percent per annum.
(2) Interest shall be compounded on a quarterly basis and credited to the account.
(3) The interest payable to the account holder in respect of any account opened or deposit made which is not in consonance with the provisions of this Scheme shall be payable at the rate applicable to the Post Office Savings Account.
6. Payment on maturity.- (1) The deposit shall mature on completion of two years from the date of the deposit and the Eligible Balance may be paid to the account holder on an application in Form-2 submitted to the accounts office on maturity.
Gazette Notification of the Mahila Samman Savings Certificate
