Mahila Samman Savings Certificate
Who can open
- By a women for herself.
- By the guardian for behalf of a minor girl.
Deposit
- Minimum of rupees 1000 and in multiple of rupees 1000.
- Maximum limit of rupees 200000 (2 lakhs) in an account or all account hold by an account holder.
- A time gap of 3 months shall be maintained between the existing account and the opening of other account.
Interest
- Deposit shall be eligible for 7.5 % Intrest per annum.(Current FY 2023 -24)
- Interest will be compounded quarterly and credited in account and paid at the time of closure of account.
- Account opened or deposit made in contraventon of rules will be eligible for interest @ Post Office Savings account (POSA).
Withdrawal
- 40 % withdrawal of eligible balance can be taken after 1 year from the date of account opening.
Pre-mature Closure
> On the death of the account holder.
> On extreme compassionate ground
- Life threatening decease of account holder.
- Death of the guardian on production of relevant documents.
- Note: scheme interest will be paid on principal amount .
- After 6 months of account openning without mention of any reason
- Note: Scheme interest less by 2 % will be paid (e.g 5.5 %)
Maturity
- After 2 years from the date opening eligible balance will be paid to the depositor.
How to open account:
- Submit Account Opening Form,KYC Document (Aadhaar and PAN Card),KYC Form for new account holder,Pay-in-Slip along with deposit amount /cheque at near Post Office.
