Mahila Samman Saving Scheme Eligibility, Apply

Mahila Samman Saving Scheme

Mahila Samman Saving Scheme

This Mahila Samman Savings Certificate is one of the best savings schemes offered by the central government through post offices or banks. It provides an excellent return on investment and is specifically designed to empower women and girls by encouraging them to save. All Indian women are eligible to apply, and minor girls can also participate with the assistance of their guardian. In this article, you will find all the details you need to know about this scheme.

Mahila Samman Saving Scheme Key Features

This scheme is backed by the government, ensuring no credit risk for investors. Strictly, Mahila Samman Saving Scheme is available for women and girls, with either a woman herself or the guardian of a minor girl able to open an account. I list some investment related details of this scheme.

Investment Limit: You can make deposits starting from Rs. 1,000 in multiples of Rs. 100, up to a maximum of Rs. 2,00,000 per account. You can open a second account after a minimum gap of three months.

Interest Rate:

  • Attractive interest rate, typically higher than regular savings schemes (subject to government updates).


  • Fixed maturity period, commonly around two years.

Interest Payout:

  • Basically, This scheme offers a fixed interest rate of 7.5% p.a., compounded quarterly and paid at the time of closure.

Tax Benefits:

  • The scheme offers certain tax benefits under Section 80C of the Income Tax Act 1961.

Premature Withdrawal:

  • Allowed under specific conditions such as the account holder’s death or extreme hardship cases (terms may apply). Account holders can withdraw up to 40% of the balance after one year from the opening date.


  • This scheme is available at post offices and qualified scheduled banks. at the same time, This scheme is valid until March 2025.


  1. Empowerment: Encourages financial independence for women and girls.
  2. Safe Investment: Government-backed scheme ensures safety of the investment.
  3. Higher Returns: Competitive interest rates compared to regular savings accounts.
  4. Financial Inclusion: Promotes savings among women, contributing to greater financial inclusion.

Premature Closure: You can close the account after six months without providing a reason, with an interest rate of 5.5% applicable on the principal amount. In the event of the account holder’s death, the account can be closed with interest paid on the principal amount. Additionally, you may close the account on extreme compassionate grounds, such as a life-threatening illness or the death of the guardian.

How to Open Mahila Samman Savings Certificate account:

Here are the key steps to open a Mahila Samman Savings Certificate account: Now you get step by step Application Process:

At Post Offices

  1. Download the ‘Application for Purchasing the Certificate’ from the Indian Post’s official website or visit the nearest Post Office branch to obtain the form.
  2. After that Fill in the required details, including the post office address, account type, payment, personal details, declaration, and nomination details.
  3. Submit the completed application form along with the required documents.
  4. Make the deposit at the post office, either in cash or by cheque.
  5. Then Receive the certificate that serves as proof of your investment in the Mahila Samman Savings Certificate scheme.

At Banks

  1. First of all, Download the ‘Mahila Samman Saving Certificate Application’ from the qualified bank’s official website or visit the bank to obtain a hard copy of the form.
  2. Complete the application form with the correct details.
  3. Fill in the declaration and nomination details.
  4. Then Submit the application form, deposit amount, and required documents to the bank’s executive.
  5. Upon successful submission, you will receive the certificate verifying your investment in the scheme.

Required Documents

  • Duly filled application form
  • KYC documents (Aadhaar, PAN card, etc.)
  • KYC form for the new account holder
  • Pay-in slip for making the deposit

The Mahila Samman Savings Certificate scheme is available at post offices and qualified scheduled banks authorized by the Ministry of Finance and the Department of Economic Affairs. if you want more government scheme like this follow our latest news tamil website.