Mahila Samman Savings Certificate Scheme of Post Office is very important to strengthen women financially. In this scheme, women get the benefit of guaranteed returns. This scheme of the post office helps women in earning money and also in securing their future. Let us know about this scheme in detail.
This is a small savings scheme. The government gives 7.5 percent interest on this scheme. This interest is added to the account every quarter but the entire principal is received after maturity. Guaranteed returns are available in this scheme.
How much return will you get on 2 years investment?
If someone invests Rs 2 lakh in this scheme in 2 years, then she will get Rs 2.32 lakh at maturity. Actually, this scheme works just like FD. You can invest at least Rs 1,000 in this scheme. Its maximum limit is Rs 2 lakh.
If investors wish, they can also open two accounts. However, there should be a gap of at least 3 months between the two accounts. After one year of opening the account, up to 40 percent of the amount can be withdrawn.
To avail the benefits of this scheme, you can open an account by going to your nearest post office. To open an account you will have to submit the form.
Apart from this, you will also have to provide Aadhaar Card and PAN Card to update KYC. You will also have to attach the pay-in-slip with the cheque. The benefits of this scheme are available in many banks of the country. This means that you can also go to the bank and open an account for this.
Who can invest in this scheme
Under this scheme, any woman can open an account for herself or her minor daughter. Investment in Minor account will be done through the parent. Apart from this, husband can also invest in it for his wife.
Whether tax benefit is available in this scheme or not
Mahila Samman Saving Certificate Scheme provides tax benefits under 80C of the Income Tax Act. However, tax has to be paid on the interest earned in the scheme. TDS is deducted on interest.
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