Mahila Samman Saving Certificate: Can You Withdraw Funds Before Maturity? Check the Latest Rules

The post office is considered a safe platform, with no risk of losing money. It offers various schemes, one of which is the Post Office Mahila Samman Savings Scheme (Mahila Samman Saving Certificate). The duration of this scheme is usually 2 years. However, in case of an emergency, you might need to withdraw money before the completion of the period. This raises the question of whether early withdrawal is allowed under the Mahila Samman Saving Certificate (MSSC).

Can anybody Withdraw Money Before Maturity?

According to the official post office website, female investors can withdraw money before the scheme’s maturity. However, certain rules apply. You can withdraw money after completing 1 year of investment under the Mahila Samman Saving Scheme.

Withdrawal Limit

You can withdraw only up to 40% of the total amount, which includes the interest earned for 1 year.
For example: If you invest ₹2 lakh under this scheme, after 1 year, your account balance will be ₹2,15,427 (including interest). You can withdraw 40% of this amount, which is around ₹86,000.

Priorities of Delhi Govt🤡

Mahila Samman Yojana – ₹1,000/month for every woman. The scheme gets a budget allocation of ₹2,000 crore for FY 24-25 (Freebie)

10.84% decrease in allocation towards the health department.

Delhi Govt allocated just ₹500 crore for the Delhi Metro. pic.twitter.com/ThHmb05Xb4

— Gems (@gemsofbabus_) March 6, 2024

Withdrawal in Special Cases

• In case of serious illness, you can withdraw money early, but you will only get a return on the principal amount.
  If you withdraw after 6 months, you will receive 2% less return than the regular rate.

How to Withdraw Money?

1. To withdraw money before maturity:
2. Visit your nearest post office.
3. Fill out a withdrawal request form.
4. Submit an identity card for verification.

What Returns Do You Get?

1. The scheme offers a 7.5% annual return, calculated quarterly.
2. You receive the principal and interest after the scheme’s maturity.

Investment Limits

• The scheme starts with a minimum investment of ₹1,000.
• The maximum investment limit is ₹2 lakh.