Bank of India: One of the largest public sector banks in India, Bank of India has started a special scheme for women. BOI has officially launched the Mahila Samman Savings Certificate, 2023.
The roll-out function of the scheme was inaugurated by BOI MD & CEO, Shri Rajneesh Karnataka through video conferencing. He said that Bank of India is the first bank in the country to start this scheme in all its branches.
What is special in this scheme
The scheme was announced by Finance Minister Smt. Nirmala Sitharaman on February 1, 2023, during the budget speech for the financial year 2023-2024. Under the scheme, girls or women can open Mahila Samman Savings Certificate. Apart from this, guardians of girls can also open an account on behalf of a minor girl. Under this scheme, you can deposit a minimum of Rs 1000 to a maximum of Rs 2 lakh in this account. This money remains deposited for 2 years and after 2 years you get the money back with interest.
Will get 2.32 lakhs instead of 2 lakhs
The Mahila Samman Savings Certificate Scheme offers an interest of 7.5 per cent annually. Accordingly, if you invest Rs 1 lakh in this scheme at 7.5% interest rate, you will get around Rs 1.16 lakh at the time of maturity. On the other hand, if you have invested Rs 2 lakh, then after 2 years at 7.5 percent interest rate, you will get around Rs 2.32 lakh. That is, maximum interest of Rs 32,044 can be achieved.
The income under this scheme will be taxable, however, TDS will not be deducted under the scheme. Accounts under this scheme can be opened till March 31, 2025. Till now, only Post Offices were authorized to open accounts under Mahila Samman Savings Certificate, but Government has permitted Scheduled Banks to provide this facility through Gazette Notification dated 27-06-2023, and Bank of India has The first bank to launch the scheme is
