A new Mahila Samman Savings Certificate scheme 2024 has been launched by the government with the intention of helping women people of the state. It was introduced on 1 April 2024 and will run for two years. Indian women who meet the eligibility requirements can get a one-time payment in full under this arrangement. Comparatively speaking, the scheme offers a greater interest rate than any other savings account in India. In this post you get every information regarding this scheme such as benefits, objectives, eligibility criteria, required documents and much more.
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Mahila Samman Savings Certificate Scheme 2024
The Indian Finance Minister, Mrs. Smriti Irani introduced the Scheme. The scheme was started with the intention of assisting Indian women by giving them access to savings accounts as financial support.
Only women or girls are eligible to open accounts under the Mahila Samman Saving Certificate Scheme. In the event that the candidate is underage, the female child’s guardian may initiate the scheme on her behalf. An interest rate of 7.5% is offered on the deposited money under the scheme.
Overview of Mahila Samman Savings Certificate Scheme 2024
| Name of Scheme | Mahila Samman Savings Certificate Scheme 2024 |
| Launched by | Government of India |
| Beneficiary | Financially Unstable Women |
| Objective | To Provide Financial Help |
| Official Website | ____ |
Objective of Mahila Samman Savings Certificate Scheme 2024
The main objective of the scheme was to empower women in India. Through this scheme, Indian women can receive financial support in the form of a savings account. The scheme account can accept contributions from female applicants for a minimum of INR 1000. The saving certificate plan has an interest rate of 7%. After a year, female applicants who have created a savings account are eligible to withdraw 40% of their initial contribution.
Benefits of Mahila Samman Savings Certificate Scheme 2024
Some of the benefits of this scheme is given below:
- The scheme is going to provide Indian women more authority.
- The scheme will help women develop the saving habit.
- Compared to other savings accounts, the savings account offers a comparatively higher interest rate of 7%.
- After the account’s maturity period, lump sum payments will be made under the system.
- After opening their account for a year, the applicants are eligible to withdraw 40% of their funds.
Eligibility Criteria
Some of the benefits of this scheme is given below:
- The applicant has to live in India permanently.
- The applicant must be an Indian woman who resides there.
- The applicant’s natural guardian may open the savings account if she is a minor.
- The scheme allows for the creation of just one account per female citizen.
Required Documents
Some of the required documents of this scheme is given below:
- Aadhar Card
- KYC Documents
- Voter ID
- Driver License
- PAN Card
आयुष्मान भारत महात्मा गांधी स्वास्थ्य बीमा योजना
Maturity Period
The Mahila Samman Savings Certificate Scheme has a two-year maturity period.
Minimum and Maximum Contribution
- The scheme requires a minimum donation of Rs. 1000.
- The scheme allows for a maximum contribution of Rs. 2 lakh.
Tax Exemption
Interest is paid without Tax Deducted at Source (TDS) with the savings Certificate.
Registration Procedure of Mahila Samman Savings Certificate Scheme 2024
- The applicant can visit the closest post office to get the Mahila Samman Saving Certificate Scheme.
- You get the application form there.
- Enter all the necessary details in the form.
- You have to attach all the necessary documents.
- Once your application has been accepted, send in the deposit.
- You will receive your Mahila Samman saving certificate scheme when your deposit is approved.
FAQ’s
A government-backed savings program called the Mahila Samman Savings Certificate Yojna 2024 encourages women to invest in order to empower them.
The Mahila Samman Saving Certificate Scheme has an interest rate of 7.5%.
The initiative allows for a maximum contribution of Rs. 2 lakh.