Mahila Samman Yojana: Eligibility, How To Apply, Interest Rate, Benefits

The Government of India came forward to introduce the Mahila Samman Yojana (MSSC). It is a women-centric small savings scheme. The Department of Economic Affairs (DEA) and India Post jointly manage it. The scheme aims to empower women financially. It offers a secure investment avenue with attractive returns and flexible withdrawal options.

This scheme gives a dedicated platform for women to save. It offers financial independence and promotes planned savings for emergencies or future needs. The MSSC also encourages financial literacy among women.

What is Mahila Samman Yojana?

It is a 2-year small savings scheme for women and guardians of minor girls. It allows investors to:

• Earn secure returns on a one-time deposit.
• Make partial withdrawals (up to 40%) after one year.
• Close the account at maturity (after 2 years) or under specific compassionate circumstances.

Who it Benefits from Mahila Samman Yojana

• Women seeking a safe, government-backed savings option.
• Guardians investing on behalf of minor girls.
• Individuals looking for short-term and secure investments that come with fixed returns.

Key Features & Benefits of Mahila Samman Yojana

Financial empowerment with easy access to small savings is now possible through the Mahila Samman Scheme 2025. Look through the MSSC yojana benefits and important aspects:

Interest Rate & Crediting:

• 5% p.a. that gets compounded quarterly and gets credited at maturity.

Investment Limits:

• Minimum: ₹1,000 (in multiples of ₹100)
• Maximum: ₹2,00,000 per individual across all accounts

Maturity Period:

• Standard duration: 2 years from deposit date
• Eligible balance paid at maturity

Partial Withdrawal:

• Up to 40% of the balance can be withdrawn after 1 year

Pre-Mature Closure:

• Allowed under the death of the account holder or guardian, or extreme compassionate grounds.
• Closure after 6 months is allowed, but with reduced interest (5.5% p.a.)

Multiple Account Rule:

• Multiple accounts allowed, but total deposit ≤ ₹2 lakh, with a minimum 3-month gap between accounts

Where to Apply:

• Post Office branches across India
• Authorised banks, some offering online application options

Eligibility Criteria for Mahila Samman Yojana

• Women of any age for themselves.
• Guardians can invest on behalf of a minor girl.
• Single-holder accounts only (no joint accounts).
• Must have valid identification and proof of address for Mahila Samman Yojana eligibility:
  • Aadhaar
  • PAN
  • Passport
  • Voter ID
  • NREGA job card
  • NPR letter

Exclusions

• Male account holders (except as guardians).
• Applicants who are unable to provide the required documentation.

Documents Required for Mahila Samman Yojana

• Passport-size photograph
• Proof of age: Birth Certificate
• Aadhaar Card / PAN Card
• Pay-in-slip along with the deposit amount or cheque
• Any valid ID/address proof:
  • Passport
  • Driving Licence
  • Voter ID
  • NREGA Job Card signed by the State Govt
  • Letter from the National Population Register

Application Process of Mahila Samman Yojana

Opening an MSSC account is simple. Women or guardians can apply online or offline, with easy steps for registration, deposit, and tracking.

Online

• Visit the Post Office or authorised bank website
• Select Mahila Samman Yojana Apply
• Fill in personal, guardian (if applicable), and bank details
• Submit the application and note the reference number

Offline

• Visit the nearest Post Office or bank branch
• Collect and fill the application form
• Submit along with identity and bank documents

Verification

• Officials verify identity, address, and guardian status
• After verification, the account is opened and eligible deposits accepted

Benefit Disbursal of Mahila Samman Yojana

• Interest is compounded quarterly but credited only at maturity.
• Eligible balance is transferred directly to the linked bank account.
• Partial withdrawals (40%) after 1 year are processed via the branch.
• Premature closure proceeds are credited with adjusted interest as per scheme rules.

Conclusion

So, when we talk about the Mahila Samman Yojana, we must know that it is an empowerment for women and guardians of minor girls. They can save securely with attractive returns through financial independence and stability. Linking the account to a zero-balance savings account ensures seamless receipt of interest. There are better maturity proceeds and withdrawals.

Through MSSC, women can plan for:

• Emergencies
• Future education
• Household needs

They can do either of them, along with gaining confidence in financial management.

FAQs on Mahila Samman Yojana

1. What is Mahila Samman Yojana?

A government-backed small savings scheme for women and guardians of minor girls with a 2-year maturity and 7.5% p.a. Interest.

2. Who is eligible?

Women for themselves and guardians for minor girls. Single-holder accounts only.

3. What is the interest rate under MSSC?

7.5% p.a., compounded quarterly, credited at maturity.

4. What is the minimum and maximum investment?

Minimum ₹1,000; maximum ₹2 lakh per individual across all accounts.

5. Can the account be closed before maturity?

Yes, under death, compassionate grounds, or after six months with reduced interest (5.5% p.a.).

6. Is partial withdrawal allowed?

Yes, 40% of the eligible balance after one year.

7. Where can I open the account?

Post Office branches and authorised banks across India.

8. Can I link my Kotak811 account?

Yes, for secure receipt of interest, maturity proceeds, and easy fund management.

9. What is the investment period?

Each account matures 2 years from the opening date. The last subscription was 31 March 2025.

10. Can multiple accounts be opened?

Yes. But it is important to make sure that the total deposit cannot exceed ₹2 lakh. There must be a minimum 3-month gap between accounts.

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Disclaimer
This article is intended for general informational purposes only. The information provided is based on publicly available sources and government notifications as available at the time of writing. Government schemes, eligibility criteria, benefits, coverage limits, and implementation details are subject to change, modification, or discontinuation at the discretion of the respective government authorities without prior notice.
Kotak Mahindra Bank Ltd. (“Bank”) does not guarantee the accuracy, completeness, or current validity of the information contained herein and does not assume any responsibility for discrepancies arising due to subsequent policy updates or revisions. The views expressed in this article do not necessarily reflect the views of the Bank or its employees and should not be construed as legal, medical, financial, or professional advice.
Readers are advised to verify the latest details directly from official government portals or authorized sources before relying on or acting upon the information provided. Kotak Mahindra Bank Ltd., its directors, employees, or contributors shall not be liable for any loss or damage arising from the use of or reliance on the information contained in this article.