Mahila Samman Saving Certificate

Learn how Mahila Samman Saving Certificate scheme is helping girls.
Mahila Samman Saving Certificate
4 mins
21 March 2024

Mahila Samman Savings Certificate is a government-backed small savings scheme for women in India. It was launched in April 2023. It offers a maximum deposit facility of up to Rs. 2 lakh for the period of 2 years at a fixed interest rate of 7.5% p.a.

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.

Features of the Mahila Samman Savings Certificate scheme

  • Guaranteed return: This government-supported scheme ensures a fixed return of 7.5% p.a. This helps in protecting account holders from market fluctuations
  • Eligibility: The Mahila Samman Savings Certificate is exclusively designed for women, allowing the scheme to be opened either by a woman or the guardian of a minor girl child. This ensures financial empowerment and savings opportunities for females
  • Deposit limits: The Mahila Samman Savings Certificate requires a minimum deposit of Rs. 1,000. The maximum deposit allowed is Rs. 2 lakh, which can be held in one or multiple accounts. A woman or guardian of a girl child can open a second account, but there must be a three-month gap from the opening of the existing account. This provides flexibility for account holders to manage their savings effectively
  • Nomination facility: Allows up to 4 nominees per account, defining individual shares. Minors can be nominees with guardian details. Nominees receive the corpus proportionally upon the account holder's demise
  • Partial withdrawal: Partial withdrawal are allowed 1 year after opening the account. You can withdraw up to 40% of the available balance
  • Premature closure: If the account holder passes away, the account can be closed prematurely. In extreme situation such as a life-threatening illness affecting the account holder or the unfortunate demise of the guardian, the account closure is allowed, provided relevant documents are submitted as evidence. Moreover, if no reason is specified, the account can be closed after six months from the opening date. However, in this case, the interest rate on the scheme will be reduced by 2%, resulting in a payout of 5.5%

Documents required for Mahila Samman Savings Certificate

To invest in the Mahila Samman Savings Certificate, you need to provide specific documents during the account-opening process. These documents include:

  • Mahila Samman Savings Certificate account opening form: This form is necessary to initiate the account-opening process
  • KYC documents: Submission of Aadhaar and PAN card is mandatory to comply with KYC norms
  • KYC form for the new account holder: A separate KYC form may be required to gather additional information about the new account holder
  • Pay-in slip: This document is essential for making deposits into the Mahila Samman Savings Certificate account

Opening of Mahila Samman Savings Certificate at post office

  • Download the ‘Application for purchasing the certificate’ from the Indian Post website or visit the nearest Post Office branch to obtain the form
  • Complete the form by providing the Post Office address in the ‘To The Postmaster’ section
  • Fill in your name and specify the account as 'Mahila Samman Savings Certificate’
  • Provide details like account type, payment, and personal information
  • Complete the declaration and nomination details
  • Submit the form along with the required documents
  • Make the deposit in the post office using cash or cheque
  • Receive the certificate, serving as proof of investment in the Mahila Samman Savings Certificate scheme

Opening of Mahila Samman Savings Certificate at banks

  • Complete the application form with necessary details
  • Fill in declaration and nomination details as required
  • Submit the form along with necessary documents at the bank's branch office
  • Make the deposit for opening the scheme with bank officials
  • Receive the certificate, serving as proof of your investment in the Mahila Samman Savings Certificate scheme

Mahila Samman Savings Certificate vs Bajaj Finance Fixed Deposit


Mahila Samman Savings Certificate

Bajaj Finance Fixed Deposit

Interest rate

7.5% per annum

Up to 8.65% per annum

Minimum investment

Rs. 1,000

Rs. 15,000

Maximum investment

Rs. 2 lakh

Rs. 5 crore

Maturity period

2 years

12 months to 60 months


Mahila Samman Savings Certificate is a valuable government initiative promoting financial independence for women. It offers a secure and flexible investment option with guaranteed returns. The scheme's features, like nomination facilities and multiple accounts, cater to various financial needs. Opening an account is easy, whether at post offices or banks, making it accessible for eligible individuals.


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
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.