Want to do something for your wife? Then this article will be fruitful for you. If you’re looking for a safe investment option that guarantees returns in your wife’s name, the Mahila Samman Saving Certificate Scheme is a solid choice. This government initiative offers fixed interest rates.
So, what’s the Mahila Samman Saving Certificate Scheme all about?
Launched by the Modi government in 2023, this savings program aims to encourage women to start saving and build their financial security.
You can invest until March 31, 2025
You can make investments in this small savings scheme until March 31, 2025, through either a bank or a post office.
Call for an extension of the deadline
This women-focused scheme has gained a lot of popularity, leading to calls for an extension beyond the March 31, 2025 deadline. However, during the budget announcement by Finance Minister Nirmala Sitharaman on February 1, 2025, there was no mention of extending the deadline for the Mahila Samman Saving Certificate.
What’s the interest rate?
Currently, this government scheme offers an interest rate of 7.5%. The scheme matures in two years, and you can invest up to a maximum of Rs 2,00,000.
Curious about the interest you can earn by investing Rs 1,00,000?
If you put Rs 100,000 into the Mahila Samman Saving Certificate Scheme, you’ll earn a guaranteed interest of Rs 16,022 after 2 years. So, when it matures, you’ll have a total of Rs 116,022. While men can’t invest in their own name, they can invest on behalf of their mother, sister, or wife.
Eligibility
If you’re interested in reaping the benefits of this scheme, you have until March 31, 2025, to get started. This initiative is designed specifically for women and girls. The applicant must be an Indian citizen, and guardians can also invest in the name of a minor girl child. Any woman can participate, and men or guardians can invest in the names of the women in their family. Plus, there’s no age limit to join!
Desclaimer: For any financial invest anywhere on your own responsibility, Times Bull will not be responsible for it.
