MSSC Interest Rates: MSSC accounts can be opened by women or any minor girl by her legal guardian. This scheme currently offers better returns than most bank FDs and post office two-year FDs. However, senior citizens can get better returns in the Senior Citizens Savings Scheme (SCSS) which gives returns of 8.2 percent.
MSSC Interest Rates: The government has started Mahila Samman Savings Certificate (MSSC) especially for women. It aims to empower women by offering a unique savings scheme. It was officially launched on April 1, 2023 and the scheme will continue till March 2025. In such a situation, women should invest in it to get good returns.
The Union Finance Ministry has authorized all public sector banks and private sector banks to open accounts under MSSC. This facility is also available in post offices across the country.
MSSC accounts can be opened by women or any minor girl accompanied by her legal guardian. This scheme currently offers better returns than most bank FDs and post office two-year FDs. However, senior citizens can get better returns in the Senior Citizens Savings Scheme (SCSS) which gives returns of 8.2 percent.
Interest and Returns of MSSC:
Women will get interest at the rate of 7.5 percent if they invest in Mahila Samman Savings Certificate. Now in such a situation, if you invest Rs 50,000 in this government scheme, you will get Rs 8,011 as interest after two years. So this total will be Rs 58,011.
Return on investing Rs 2 lakh?
You can make a lump sum investment from Rs 1,000 to Rs 2 lakh in the MSSC scheme. For example, if you invest Rs 2 lakh, the interest for the first quarter will be Rs 3,750. After the second quarter, interest will be calculated on the total amount including principal amount and interest earned. This process will be repeated every quarter, resulting in a maturity value of Rs 2.32 lakh at the end of the two-year period.
