Mahila Samman Saving Certificate (MSSC)

Mahila Samman Savings Certificate Scheme (MSSC) offers a secure savings option for women with attractive interest rates and flexible investment terms.
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Mahila Samman Saving Certificate
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4 mins
17-September-2025

The Mahila Samman Savings Certificate scheme was introduced by the Department of Economic Affairs, Ministry of Finance to offer financial security to women and girls across India. As per an e-gazette notification issued on June 27, 2023, all Public Sector Banks and eligible Private Sector Banks have been authorised to implement and operate the scheme.

This move is intended to expand access and make the scheme more widely available. Initially launched on April 1, 2023, through Post Offices, the scheme can now also be subscribed to through eligible Scheduled Banks. It is valid for a two-year period, ending on March 31, 2025.

Remember, it is important to diversify your investments for greater financial stability. Consider opening a fixed deposit (FD) alongside your Mahila Samman Savings Certificate. This can help you diversifies your portfolio and helps you reach your financial goals faster. Check latest FD rates offered by Bajaj Finance.

Features of the Mahila Samman Savings Certificate scheme

The Mahila Samman Savings Certificate (MSSC), introduced in 2023, aims to empower women by offering a safe, government-backed investment option. Here are its standout features:

  • Exclusively for women and girl children

  • 7.5% interest per annum, compounded quarterly

  • Minimum deposit: Rs. 1,000; maximum: Rs. 2 lakh

  • Two-year tenure from the date of deposit

  • Partial withdrawal of up to 40% after one year

Want to save with even higher flexibility? A Bajaj Finance Fixed Deposit offers assured returns up to 7.30% p.a., with tenure options ranging from 12 to 60 months. Book FD.

Benefits of MSSC scheme

The MSSC scheme is designed to provide security and steady growth. Here’s why it stands out:

  • Fixed 7.5% annual interest rate

  • Flexible deposits starting from Rs. 1,000

  • Liquidity through partial withdrawals

  • Safe and reliable—backed by the Government of India

Fixed Deposit

  1. Trusted by over 5 lakh customers
  2. Fixed Deposits worth more than Rs. 50,000 crore booked
  3. Rated CRISIL AAA/STABLE and [ICRA]AAA(STABLE)
  4. Up to 0.35% p.a. extra interest offered for senior citizens
  5. Flexible interest payout options available - Monthly, Quarterly, Half-yearly, Annually or at Maturity

By proceeding, you agree to our Terms and Conditions

Eligibility criteria for Mahila Samman Saving certificate

  • Available only for Indian women and girl children

  • No age restrictions—any woman can open an account

  • Minors’ accounts can be opened by guardians

  • Single-holder account only

Deposit rules

  • Minimum deposit: Rs. 1,000 (in multiples of Rs. 100)

  • Maximum deposit: Rs. 2 lakh across all accounts

  • Minimum 3 months gap required between multiple accounts

  • No additional deposits allowed in the same account after opening

With FDs, you get more flexibility—start with Rs. 15,000 and add separate FDs anytime for different financial goals. Open an FD account.

Maturity and payout

  • Fixed 2-year maturity period from the date of deposit

  • Entire eligible balance paid out at maturity

  • Amounts rounded up to the nearest rupee

Withdrawal rules

  • One-time withdrawal allowed up to 40% of eligible balance

  • Only after one year from account opening

  • For minor accounts, guardians must provide certification

For broader savings, consider combining MSSC with a Bajaj Finance FD, where you can invest up to Rs. 3 crore and diversify your portfolio. Check eligibility.

Documents required for Mahila Samman Savings certificate

  • Account opening form

  • Aadhaar and PAN (mandatory for KYC)

  • Pay-in slip for deposits

  • Nomination details

  • Passport-size photograph

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Opening an MSSC account

At Post Offices

  • Collect and fill the form

  • Provide KYC and nomination details

  • Deposit amount via cash or cheque

  • Receive certificate as proof of investment

At Banks

  • Fill the bank’s application form

  • Submit documents and KYC

  • Deposit amount with bank officials

  • Get certificate as proof of investment

For women seeking both short-term liquidity and long-term savings, pairing MSSC with a Bajaj Finance FD offers the perfect balance. Invest now!

Mahila Samman Savings Certificate vs Bajaj Finance Fixed Deposit

Features

Mahila Samman Savings Certificate

Bajaj Finance FD

Interest Rate

7.5% p.a.

Up to 7.30% p.a.

Minimum Investment

Rs. 1,000

Rs. 15,000

Maximum Investment

Rs. 2 lakh

Rs. 3 crore

Tenure

2 years

12 – 60 months

Liquidity

Partial withdrawal (40%)

Flexible withdrawals/loans

 

Also Read: Best investment options

Conclusion

The Mahila Samman Savings Certificate is a thoughtful government initiative that encourages women to save securely. With fixed returns, flexible withdrawals, and a short two-year maturity, it is ideal for conservative investors.

However, if you want higher flexibility, larger deposit limits, and customisable tenures, pairing it with a Bajaj Finance Fixed Deposit can give you a stronger, more diversified financial portfolio. Book an FD.

FAQs:

Can I open a Mahila Samman Savings Certificate now?

Yes, you can invest in the Mahila Samman Savings Certificate (MSSC) scheme until March 31, 2025. Application forms are available on the Post Office and participating bank websites.

Is the Mahila Samman Savings Certificate tax-free?

No, deposits under this scheme do not qualify for tax deductions under Section 80C or any other section of the Income Tax Act. There is no tax-saving benefit on the investment amount.

Are Bajaj Finance FDs safe?

Yes. Bajaj Finance FDs carry the highest safety ratings – AAA/Stable from CRISIL and ICRA – ensuring your money is secure while it grows. Check latest rates. 

Can I withdraw money from the Mahila Samman Savings Certificate?

Yes, you're allowed one-time partial withdrawal of up to 40% of the eligible balance after completing 1 year from the account opening, and before maturity.

Can I break or close the Mahila Samman Savings Certificate early?

Yes, premature closure is allowed after 6 months, but it comes with a 2% penalty on the interest rate.

What is the maturity period of the Mahila Samman Savings Certificate?

The maturity period is 2 years from the date of account opening.

Is TDS applicable on the Mahila Samman Savings Certificate?

No TDS is deducted unless the interest earned exceeds ₹40,000 in a financial year (₹50,000 for senior citizens).

What is the last date to invest in the scheme?

The last date to invest is March 31, 2025. No new applications will be accepted after this date.

Which state has the highest number of MSSC subscribers?

As per available data:

  • Maharashtra has the highest uptake (5 units),

  • Followed by Tamil Nadu (3) and Odisha (1).

Is the scheme available at post offices?

Yes, the MSSC scheme is available at all post offices and eligible scheduled banks since April 1, 2023.

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Disclaimer

As regards deposit taking activity of Bajaj Finance Ltd (BFL), the viewers may refer to the advertisement in the Indian Express (Mumbai Edition) and Loksatta (Pune Edition) furnished in the application form for soliciting public deposits or refer https://www.bajajfinserv.in/fixed-deposit-archives
The company is having a valid Certificate of Registration dated March 5, 1998 issued by the Reserve Bank of India under section 45 IA of the Reserve Bank of India Act, 1934. However, the RBI does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinions expressed by the company and for repayment of deposits/discharge of the liabilities by the company.

For the FD calculator the actual returns may vary slightly if the Fixed Deposit tenure includes a leap year.