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All About Mahila Samman Savings Certificate

5 Sep, 2023

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Financial independence is a critical component of personal empowerment, especially in India, where women have traditionally faced significant challenges in accessing financial resources.

To encourage financial inclusion and empowerment of girls and women, the central government introduced Mahila Samman Saving Certificate (MSSC) in Budget 2023. It is a new saving scheme for ladies with a single-holder type account.

Who is eligible for Mahila Samman Savings Certificate?

Any individual girl or woman is eligible for Mahila Samman Saving Certificate. A woman can open an MSSC account for herself by filling out Form - I. In the case of a minor girl, a legal guardian can open this account on her behalf.

How to open an MSSC account?

MSSC accounts can be opened in any local post office or an authorized bank. The minimum sum for investment is Rs 1000, and the maximum limit is Rs 2 Lakh. A sum in multiples of 100 is acceptable.

The scheme is operational from 1st April 2023 to 31st March 2025.

Benefits of MSSC/Mahila Samman Yojna

The Mahila Samman Yojna offers a decent interest rate of 7.5% per annum compounded quarterly and credited to the account. The maturity term for this deposit is 2 years and allows partial withdrawal up to 40% after the completion of 1 year.  It can be availed by submitting a Form-3 application.

In case of an account opened on behalf of a minor girl, the guardian may apply for the withdrawal for the benefit of the minor girl by submitting an application.

Payment on maturity: Once the deposit matures on completion of two years from the date of the deposit, the Eligible Balance is paid to the account holder on an application in Form-2 submitted at the applicable post office or bank where the account was opened. The maturity amount is credited to the account of the deposit holder.

Note: Premature closure of the Mahila Samman Savings Certificate account is allowed on the account holder’s death or on extreme medical and compassionate grounds. It is allowed after 6 months from the account’s opening date, and the interest payable is two percent less than the proposed interest of 7.5%.


Mahila Samman Savings Certificate is a tool exclusively for the financial empowerment of women in India and is operational till May end of 2025.

The government backs it and hence remains a safe instrument for investment. It offers interest rates better than the majority of fixed deposit schemes of the banks or government-backed saving schemes making it a highly attractive saving scheme.

Access the Mahila Samman Savings Certificate

You may also want to read about Sukanya Samriddhi Yojana.

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