3 days left to get 7.5% interest for two years: Know how much to invest, last date, other key details of this government scheme

The Mahila Samman Savings Certificate (MSSC) is a government-backed savings scheme specifically designed to empower women and girls by providing them with a safe and attractive investment option. Launched as part of initiatives to promote financial inclusion and women’s empowerment, MSSC offers a fixed tenure of two years, making it a secure means to grow savings over a short period of time.

Who can invest in Mahila Samman Savings Certificate scheme?

Under the MSSC scheme, only women and girls are eligible to invest, and guardians can invest on the behalf of minor girls. This targeted approach not only encourages financial independence among women but also provides a platform for young girls to start their investment journey early on.

Last date to invest in Mahila Samman Savings Certificate scheme

The last date to invest in Mahila Samman Savings Certificate is March 31, 2025.


Also read: SBI special FD interest rates up to 7.75%: March 31, 2025, is the last date to invest in two special fixed deposits

Minimum and maximum amount
The minimum amount required to open an account is Rs1,000, while the maximum permissible investment is Rs 2 lakh per individual. These limits are structured to cater to a broad spectrum of investors, from those just beginning to save to individuals with a greater capacity for investment.

Premature withdrawals
One of the attractive features of the MSSC is its flexibility in terms of withdrawals. After one year of holding the certificate, investors are allowed to make partial withdrawals of up to 40% of the deposited amount. However, the full principal along with the accrued interest is only available at the end of the two-year term, providing a balance between liquidity and long-term savings.

Also read: Partial withdrawal from Mahila Samman Savings Certificate: India Post starts withdrawal facility; check details

Taxation
Investors must report the interest income under "Income from Other Sources," and the scheme does not qualify for any tax deduction under Section 80C of the Income Tax Act. This aspect should be considered by potential investors when comparing MSSC with other tax-saving investment options.

It is important to note that while MSSC offers competitive interest rates, the interest earned on the certificate is taxable.

Mahila Samman Savings Certificate offers 7.5% interest rate

Here is the list of interest rates offered by banks with two-year tenures of SBI, HDFC Bank, Canara Bank and Axis Bank.
SBI offers an interest rate of 6.80% on FDs for general citizens. Senior citizens will receive an additional 50 basis points (bps) for tenures ranging between 1 year and less than 2 years.

HDFC Bank provides an interest rate of 7.25% on FDs for general citizens. Senior citizens will get an extra 50 bps for FD tenures between 18 months and less than 2 years.

Canara Bank offers the highest FD interest rate of 7.25% for a tenure of 444 days (equivalent to 1 year, 2 months, and 19 days). Senior citizen investors will receive an additional 50 bps.

Axis Bank provides an FD interest rate of 7.25% for tenures between 15 months and 2 years. Women senior citizen investors will be eligible for an extra 0.50% interest.