Q: What is the Mahila Samman Savings Certificate scheme?

It is a one-time, small savings scheme for women and girls with a 2-year tenure and a fixed interest rate of 7.5%, compounded quarterly.

Q: What is the interest rate and how is it paid?

The rate is 7.5% per annum, compounded quarterly. The total interest is paid out at maturity (after 2 years).

Q: What is the minimum and maximum investment limit?

The minimum is ₹1,000, and the maximum is ₹2,00,000 per individual.

Q: Is the investment in MSSC eligible for tax deduction under Section 80C?

No, the investment does not qualify for an 80C deduction.

Q: Is the interest earned from the MSSC tax-free?

No, the interest earned is taxable as per your individual income tax slab. However, TDS is usually not deducted.

Q: Who can open the account?

Any Indian woman can open it for herself, or a guardian can open it for a minor girl child.

Q: Can I open multiple MSSC accounts?

Yes, but the total amount across all your accounts cannot exceed ₹2 lakh, and there must be a 3-month gap between opening new accounts.

Q: Can I withdraw funds before the account matures?

Yes. After one year, you can take a partial withdrawal of up to 40%. Premature closure is also allowed under specific conditions.

Q: What is the penalty for premature closure?

If you close the account after 6 months (for any reason), the interest rate is reduced to 5.5%. If closed due to death or on extreme compassionate grounds, the full 7.5% rate is paid.

Q: Where can I open an MSSC account?

You can open an account at any Post Office or an authorized bank (like Bank of Baroda, PNB, Canara Bank, etc.).

Q: How is MSSC better than a Fixed Deposit (FD)?

It generally offers a higher interest rate (7.5%) than a 2-year bank FD. Plus, its quarterly compounding provides a better yield.

Q: What was the investment deadline for the MSSC scheme?

The scheme was available for investment for two years, from April 1, 2023, up to March 31, 2025. No new accounts can be opened after this date.

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