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The Mahila Samman Savings Scheme, introduced by the Government of India, is a savings scheme for women. It gives women the option to invest and accumulate savings over time.
The scheme has an annual interest rate of 7.5 per cent which is greater than typical savings accounts. Due to the two-year lock-in duration, it is appropriate for short-term financial objectives. Additionally, it offers flexibility to a broad spectrum of investors by permitting investments between Rs 1,000 and Rs 2 lakh.
Women and guardians of minor girls can apply for this scheme, providing an easy and secure way for them to take charge of their financial future. The scheme is available for a short period and has to be utilized before March 31, 2025.
To apply, you need identity proof (Aadhaar, PAN, Passport), address proof (Aadhaar, utility bill), recent passport-sized photographs, and bank/post office account details (passbook or statement).
Visit a designated post office or bank to fill out the application form. Once you've completed the KYC process and contributed between Rs. 1,000 and Rs. 2 lakh you'll receive your Mahila Samman Savings Certificate as proof of your investment.
For women with short-term objectives looking for a safe, high-return investment, this plan is suitable. It provides risk-free returns that are unaffected by market swings, which makes it perfect for women saving for small businesses, emergencies, or education.