In Budget 2023-24, the government introduced the Mahila Samman Savings Certificate (MSSC) scheme, a small savings initiative tailored for women to encourage investment and financial empowerment. Women of any age group can opt for this scheme, and in the case of a minor child, a legal guardian can apply on their behalf.

**How much can you invest?**

You can invest a minimum of ₹1000 and this can go up to a maximum of ₹2,00,000.

**What is the interest rate?**

The MSSC scheme offers an interest rate of 7.5% per annum, which is higher than most FDs. Moreover, this interest is compounded quarterly and is payable at the time of maturity.

**What is the maturity period?**

MSSC is a one-time small savings scheme and its maturity period is 2 years.

**Can I withdraw the amount before maturity?**

Yes, partial withdrawal is allowed under this scheme. You can withdraw 40% of the amount invested after one year from the account opening date.

**What if I want to close the account before maturity?**

You can close the account after 6 months from the account opening date. However, if the account is closed prematurely, the payable interest will be reduced by 2%, resulting in an interest rate of 5.5%.

**How much amount will I get upon maturity if I invest ₹2L?**

If you invest ₹2L in the MSSC scheme, the interest for the first quarter will be ₹3,750. As the interest will compound quarterly, after the second quarter, the interest would be calculated on the total amount (principal and interest for 1st quarter). The same process will be repeated for all 8 quarters and at maturity you’ll receive a total of ₹2,32,044. This means you get an interest of ₹32,044 on your invested amount.

This scheme is open for investments till 31st March 2025.