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Union Budget 2023: Mahila Samman Saving Certificate, All You Need To Know About

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Batori24 Bureau
Batori24 Bureau
Batori24 is a Vernacular based Assamese news portal based in Guwahati Assam. We are a dedicated news channel covering news and stories across the globe with special reference to Assam, north-east along with National and International news.

Mahila Samman Saving Certificate: Finance Minister Nirmala Sitharaman announced a new small savings scheme for female investors in the Union Budget 2023-24. The programme will be known as the Mahila Samman Saving Certificate (MSSC).

In her Budget 2023 speech, Finance Minister Nirmala Sitharaman announced a small savings scheme for women. During the budget speech, the FM stated that the Mahila Samman Savings Certificate would have a two-year term and a 7.5% interest rate.


Deposits in this scheme, can be made in the name of a woman or a girl child. You can make a two-year deposit of up to Rs 2 lakh at a fixed rate of 7.5 percent. There are no tax advantages in this scheme, but partial withdrawal is permitted.

This is a one-time scheme announced in Budget 2023 that will be available for two years, until March 2025.

Also Read: Union Budget 2023: What gets cheaper, what gets costlier,Full list

For a girl child, we already have the Sukanya Samriddhi Yojana (SSY). An account can be opened for a girl as young as 10 years old to invest in this scheme, which has a 21-year tenure (account is closed after the marriage of the girl). Deposits, however, can only be made until the 15th year.

The scheme has a liquidity problem. The entire SSY corpus is frozen until the girl reaches the age of 18. Even so, only up to 50% of the investment amount can be withdrawn for educational purposes.

For the short term, the Mahila Samman Saving Certificate is a viable alternative to fixed deposits (FDs) held in the name of a woman. “The returns are higher than bank FDs, and partial withdrawal reduces liquidity concerns,” said Adhil Shetty, CEO of Bankbazaar.com.


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