Mahila Samman Savings Certificate (MSSC)

Who can open

• By a woman for herself.
• By the guardian on behalf of a minor girl.

Deposit

• Minimum of rupees one thousand and in multiple of rupees one hundred.
• Maximum limit of rupees two lakh in an account or all account hold by an account holder.
• A time gap of three months shall be maintained between the existing account and the opening of other account.

Interest

• Deposit shall eligible for 7.5 per cent interest per annum.
• Interest will be compounded quarterly and credited in account and paid at the time of closure of account.
• Account opened or deposit made in-contravention of rules will be eligible for interest @ PO Savings Account.

Withdrawal

40% withdrawal of eligible balance can be taken after one year from the date of account opening.

Pre-mature closure

• On the death of the account holder
• On extreme compassionate ground
  • Life threatening decease of account holder
  • death of the guardian on production of relevant documents.

Note:-Scheme interest will be paid on principal amount.

• After six months of account opening without mentioning any reason.

Note:-Scheme interest less by 2 per cent will be paid e.g. 5.5%.

Maturity

After two years from the date opening eligible balance will be paid to the depositor.

How to open account

• Submit Account Opening Form,
• KYC Document (Aadhaar and PAN card),
• KYC form for new account holder,
• Pay-in-Slip alongwith deposit amount/cheque at nearest post office.