Empowering Women: Mahila Samman Savings Certificate unveiled by Finance Minister

In commemoration of the Azad Bharat Amrit Mahotsav, Union Finance Minister Nirmala Sitharaman has introduced the Mahila Samman Savings Certificate—a groundbreaking social security scheme designed to enhance financial empowerment for women. This one-time investment scheme, accessible at banks and post offices, offers an attractive 7.5% interest rate.

Key Features of Mahila Samman Savings Certificate:


Minimum deposit of Rs. 1,000, with subsequent multiples of Rs 100.

Maximum deposit capped at Rs 2 lakh, open for both female senior citizens and young women.

Multiple accounts allowed with a three-month gap between each account.

Guaranteed returns, exclusive to women and girls, with no age limits.

Parents can open accounts on behalf of minor children.

Two-year lock-in period, with partial withdrawals up to 40% allowed a year after the opening date.

No tax liability on the 7.5% interest for amounts up to Rs 2 lakh; taxes apply if annual interest exceeds Rs 40,000 for women below 60 and Rs 50,000 for those above 60.

Premature closure permitted after six months under exceptional circumstances, with returns at 5.5%.

Closures allowed in cases of life-threatening diseases or death, returning the invested amount and accrued interest to eligible nominees.

The Mahila Samman Savings Certificate aims to foster savings for female children, promoting financial independence by providing a platform to save and invest for the future.