Mahila Samman Savings Certificate Calculator (MSSC Calculator)

Calculate maturity amount for Mahila Samman Savings Certificate Yojana using MSSC Calculator (Mahila Samman Savings Certificate Calculator) in 2023.

Mahila Samman Savings Certificate Yojana is a new saving scheme launched by the Government of India in Budget 2023. This scheme is also known as Mahila Samman Bachat Patra scheme and Mahila Samman Yojana, MSSC Yojana 2023

Mahila Samman Savings Certificate Yojana is explained here in detail along with Mahila Samman Savings Certificate calculator, eligibility, interest rate, online registration, apply online, and much more.

Calculate your maturity amount through Mahila Samman Savings Certificate scheme Calculator right now here.

Mahila Samman Savings Certificate Yojana 2023- Key features 

Mahila Samman Savings Certificate Yojana is a small saving scheme for Indian women and girls only.

It is a totally new savings scheme that is announced by Finance Minister Nirmala Sitharaman during the speech on budget 2023.

Indian women and girls can open a Mahila Samman Bachat Patra account in any post office through offline mode.

A maximum of 2 Lakh rupees is permissible to invest in this scheme for a period of two years.

You will get higher returns through this scheme after maturity because it gives us a 7.5% internet rate annually (quarterly compounding).

Partial withdrawal is also allowed in the Mahila Samman Savings Certificate yojana.

• Name of the scheme- Mahila Samman Savings Certificate Yojana or Mahila Samman Bachat Patra Yojana
• Interest rate- 7.5% per annam
• Maturity period- two year
• Eligibility- allowed for Indin women and girls
• Where to open- in any post office across India

Where to open Mahila Samman Savings Certificate (MSSC) account

All post offices are authorized for Mahila Samman Savings Certificate Yojana where you can open an MSSC account from 01st April 2023 to 31st March 2025.

Just visit the nearest post office to open Mahila Samman account. If you don't know your nearest post office then check here is post office open today or not.

Fill MSSC account opening form and submit it along with your KYC documents such as your Aadhar card, pan card, and 2 passport-size photographs to the post office.

Post office staff will open an MSSC account in the system and provide you a Mahila Samman Bachat Patra account passbook which contains all the information related to your account number, CIF ID number, address, etc.

Mahila Samman Savings Certificate Yojana Eligibility 

Women and girls are eligible to open Mahila Samman Savings Certificate accounts. This scheme is restricted to male citizens of India.

Eligibility to open an account under Mahila Samman scheme is as under-

• Only Females (women and girls) can open accounts under this scheme.
• She must have a Resident of India. A foreigner can't be eligible for the MSBP scheme.
• Her Age must be in between 18-60 years
• Adhar Card must be required for KYC purposes.

Mahila Samman Savings Certificate Yojana Interest Rate 2023

MSSC Yojana interest rate is 7.5% per year. The interest rate is much higher than bank FD. 

Mahila Samman Savings Certificate Yojana Calculator (MSSC Calculator)

Calculate maturity amount for Mahila Samman Savings Certificate Yojana using MSSC Calculator (Mahila Samman Savings Certificate Calculator) in 2023.

Invested Amount:
Interest Rate:
Time Duration:
Maturity Amount:

👉👉 Click here to Apply Online to open MSSC Account right now

MSSC Maturity Amount calculation with example

The interest calculator for the Mahila Samman Saving certificate is explained here with an example.

Suppose you want to invest 2,00,000/- rupees in the Mahila Samman Saving certificate scheme for two years, then you will get 2,32,044/- rupees as maturity amount.

The interest calculation is as under-

invested money- 2,00,000/-

interest rate- 7.5% (Quarterly compounding)

First Quarter for 1st year- 200000x7.5%x3/12= 3750/-

Second Quarter for 1st year- 203750x7.5%x3/12= 3820/-

Third Quarter for 1st year- 207570x7.5%x3/12= 3892/-

Forth Quarter for 1st year- 211462x7.5%x3/12= 3965/-

First Quarter for 2nd year- 215427x7.5%x3/12= 4039/-

Second Quarter for 2nd year- 219466x7.5%x3/12= 4115/-

Third Quarter for 2nd year- 223581x7.5%x3/12= 4192/-

Fourth Quarter for 2nd year- 227773x7.5%x3/12= 4271/-

Maturity amount after two year= 227773+4271= 232044/-

Mahila Samman Savings Certificate Yojana VS other savings scheme

 Mahila Sammaan Savings Certificate scheme is a more powerful investment tool other than Public Provident Fund (PPF), Sukanya Samriddhi Yojana, Senior Citizen small savings scheme (SCSS) Monthly Investment Scheme (MIS), Fixed Deposit (FD), and Recurring Deposit (RD).

Mahila Samman Yojana is more profitable than other savings schemes due to its various features. There are under-

• Higher interest rate i.e. 7.5 percent per year
• low maturity period- only two year 
• Compounding - yearly
• Higher returns after maturity 
• Only females (women and girls) can open a Mahila Samman account.

FAQs

Question 01- Where we can open Mahila Samman Bachat Patra account?

Answer- The account can be opened at any post office in India.

Question 02- What is the interest rate on Mahila Samman Savings certificate account?

Answer- 7.5% (Quarterly Compounding)

Question 03- Can a male person open Mahila Samman yojana account?

Answer- No.

Question 04- Can I open Mahila Samman savings certificate account online?

Answer- No, you have to visit your nearest post office to open account under the Mahila Samman scheme. 

Question 05- When will post office start opening Mahila Samman saving certificate accounts?

Answer- The post office will start to open mahila samman savings certificate account from 01st April 2023 to 31st March 2025.

Conclusion 

In short, we can say Mahila Samman Bachat Patra Yojana is the most profitable national small saving scheme of the Government of India. Every woman and girl should have to open a Mahila Samman Savings certificate scheme account as soon as possible so they can get higher returns at the time of maturity.

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