Mahila Samman Savings Scheme: The government runs a unique programme specifically for women called the Mahila Samman Savings Scheme. Women who put money into this arrangement will receive very significant interest. Money must be put into MSSC for a period of two years. You receive the full amount back after two years, including principal and interest. Interest on this programme is currently 7.5%. How much return will you receive in this scenario if you invest Rs 50,000, Rs 1,00,000, and Rs 2,00,000 in this government scheme? Understand this computation.
Projected Returns with Mahila Samman Scheme
The Mahila Samman Saving Certificate Scheme Calculator 2023 states that if you invest Rs 50,000 in this scheme, you will receive Rs 8,011 in interest on the fund after two years at a rate of 7.5 percent, but will meet. In this manner, you will receive a total of Rs 58,011 after two years.
In contrast, if you invest Rs 1,00,000 in the programme, you will receive Rs 1,16,022 when it matures at an interest rate of 7.5 percent. After two years, if you deposit Rs 1,50,000, you will receive Rs 1,74,033. If you invest Rs 2,00,000, you would receive interest on the invested amount of Rs 32,044 after two years at a rate of 7.5 percent. You will receive a total of Rs 2,32,044 in this manner upon maturity.
Any Woman Can Open Mahila Samman Savings Account
Any woman can open an account at any authorised bank or post office. The parents of girls under the age of eighteen may open this account. You must fill out Form-1 while opening an account, and you’ll also need to provide KYC documents like your PAN card, Aadhar card, and a colourful photo, among others. This scheme’s benefits are available through 2025.
Early Withdrawal Option After One Year
After a year, you are granted the ability to take money out of the account before the maturity date. After a year, you can take up to 40% of the money you put if you need money in between. Able to remove.
After six months after creating the account, the Mahila Samman Savings Patra Scheme account may be terminated in the event that the account holder passes away or becomes gravely ill. However, in this case, the money is returned by 2% interest rate reduction. Interest will be paid at the rate of 5.5 percent in this scenario.
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