Finance Minister Nirmala Sitharaman had offered Mahila Samman Saving Certificate Scheme in the budget this year. Today, from April 1, this has also been implemented. In such a situation, here you will get every detail related to this scheme.
Anamika manages to save some money from her husband every month. But his savings are often confined to rice boxes or a bag hanging in the cupboard behind the sarees. She also wants that this money should be invested in such a scheme where it is safe to invest and also get good interest.
Finance Minister Nirmala Sitharaman had announced to start the 'Women's Honor Saving Certificate' scheme in this year's budget, in order to make this amount a part of the economy, to give them better returns on similar savings of women. Now from April 1, 2023, this new savings scheme has become operational. In such a situation, how to invest in this scheme, here you will get complete details…
Who can open the account?
Mahila Samman Saving Certificate Scheme, as the name itself is clear. This is a special saving scheme brought for women. The account linked to this scheme can be opened in Post Bank i.e. Post Office or any authorized bank.
Women can open this account on their own, or in the name of a minor girl, her guardian. To be a part of this scheme, they will have to fill Form-1 before March 31, 2025. One more thing, no joint account can be opened under this scheme. This means that only the woman in whose name the account is there can operate the account.
How much can I invest?
A minimum investment of Rs 1000 will have to be made in Mahila Samman Saving Certificate Scheme. At the same time, after this, investment can be made in this account in multiple of 100 rupees. At the same time, the maximum investment limit for this is Rs 2 lakh.
How much interest will you get?
The government has also announced interest for the Mahila Samman Saving Certificate Scheme. Under this, 7.5 percent interest will be available every year. This interest will be calculated on a quarterly basis and the amount will be credited to the account.
When will the maturity of the scheme happen?
This scheme has been brought with a maturity period of 2 years. Your money will be deposited for a period of 2 years from the date of start of investment under the scheme. After that women will be able to withdraw money along with interest. For this Form-2 will have to be filled and submitted. On the other hand, if the amount of maturity is made in money, then it will be rounded off and made equal to the whole rupee.
40% amount can be withdrawn after one year
After the completion of one year of this scheme, a woman having an account before maturity can redeem a maximum of 40 percent of the amount. For this he has to fill Form-3.
Can I end the scheme before maturity?
It is prohibited to terminate the Mahila Samman Saving Certificate Scheme before maturity. This can be done only on some occasions. For example, if the woman keeping the account dies. It is difficult to operate the account due to serious illness, or death of the guardian in case of a minor. This has to be informed in writing.
If the scheme is closed before maturity then?
If a woman closes this scheme before maturity, then she gets interest on the principal only for the period till then. At the same time, the account can be closed before maturity only after at least 6 months under the conditions mentioned above. However, in such cases the interest rate is 2 percent less.
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