“Mahila Samman Savings Scheme” Special savings plan for women..! Take advantage of the time limit!
Mahila Samman Savings Scheme is a scheme announced by Union Finance Minister Nirmala Sitharaman during the last Budget 2023 to encourage women to save. The scheme will end on March 31, 2025. So women can invest in this scheme without missing this opportunity and see profit.
Mahila Samman Savings Scheme: The Mahila Samman Savings Scheme was brought with the aim of encouraging women not to consider gold as a safe investment but to invest in other schemes as well. Mahila Samman Savings Scheme announced in the last Budget 2023 is a short term savings scheme for women. The scheme ends on 31st March 2025.
How Much Interest Rate?: Mahila Samman Savings Scheme offers higher interest than bank FDs. That means 7.5% interest is paid per annum. Usually no short term savings scheme earns such high interest.
How much can be invested?: Women can invest from a minimum of Rs.1,000 up to Rs.2,00,000 in the Mahila Samman Savings Scheme. So start saving from thousands. There is an opportunity to invest within the next one year. So women should take advantage of this opportunity.
How much will you get if you invest Rs.2 lakh?: For example let’s say Kausalya invests Rs.2,00,000 in Mahila Samman Savings Scheme. He invests on March 1, 2024. The duration of this program is two years. So in two years his investment would have grown to Rs.2,32,044.
That means his investment amount of Rs 2 lakh will earn Rs 32,044 interest for 2 years. 2,32,044 as maturity amount at the end of two years.
Savings can also be started in the name of female children in the household under this scheme. The special feature is that a woman can start an investment a second time after 3 months of investing in this scheme.
How to invest?: Start investing easily by visiting your nearest post office. Take the address and photo proof and fill up the application form and pay the investment amount. Your savings bond will be issued immediately. After completion of two years, you can carry it and get the maturity amount along with the interest. There is no income tax on the interest earned.
