MSSC Vs Bank FD: MSSC is a scheme which is run especially for women. But does it give better interest than bank FD? This question will often be in the mind of women before investing. Here know about the interest received on two-year FD in 5 banks so that there is no scope for confusion in your mind.
MSSC Vs Bank FD: In today’s time, women are also working, so they have become very aware about investment. In such a situation, many schemes are also run by the Government of India to promote women empowerment and encourage maximum investment. One of these is Mahila Samman Savings Certificate (MSSC). This scheme is like a fixed deposit.
Women can invest in this scheme for a maximum of two years. At present, the government gives interest at the rate of 7.5 percent on this scheme. Women who want to fix the amount for two years can take advantage of better interest in it. But does MSSC Bank give better interest than FD? This question will often be in the mind of women before investing. Here know about the interest on two-year FD in 5 banks so that there is no scope for confusion in your mind.
See how much interest is being given in 5 big banks
State Bank of India – 6.80%
Punjab National Bank – 6.80%
Canara Bank – 6.85%
HDFC Bank – 7.00%
ICICI Bank -7.20%
If you compare MSSC with these banks, then you can get better interest here. Women can invest from Rs 1,000 to Rs 2,00,000 in this scheme. But the opportunity to invest in this scheme is till March 31, 2025.
Benefits of Mahila Samman Savings Certificate Scheme
The Mahila Samman Savings Certificate Scheme is like a fixed deposit scheme. It is a one-time deposit scheme.
If we compare the interest rate of Mahila Samman Savings Certificate Scheme with other small savings schemes, it looks better than many schemes. The interest rate of Mahila Samman Savings Certificate Scheme is quite attractive even in comparison to National Savings Certificate, Public Provident Fund, Monthly Income Scheme.
The new interest rates of all the small savings schemes running in India are announced before every quarter, but this will not have any effect on Mahila Samman Savings Certificate. In this, you will get a guaranteed return of 7.5 percent.
This scheme matures after two years only. Your money will not be stuck in it for a very long time. If needed, you can also make partial withdrawal.
There is no age limit in this, investment can be made in this scheme in the name of a girl or woman of any age.
How to open an account
If you also want to invest in the Mahila Samman Savings Certificate Scheme, then you can open an account in the post office. You can open a guardian account in the name of a minor girl. While opening an account, you will need KYC documents like Aadhaar card, PAN card and colorful photo etc.
