Women will get many benefits from Mahila Samman Savings Certificate Scheme: By saving their savings, they will be able to become self-reliant in future, know how to apply

The Women's Empowerment Savings Certificate Scheme, presented in the 2023 budget, is a one-time savings scheme aimed at women. The scheme was launched by Finance Minister Nirmala Sitharaman and is for a duration of two years. Through this scheme, a fixed interest rate of 7.5% per annum is provided on the deposited amount for two years. The scheme commenced on April 1, 2023. It allows women to save for their future and promotes self-reliance.

What is the Women's Empowerment Savings Certificate Scheme?

This scheme is introduced to empower and honor women. The Women's Empowerment Savings Certificate Scheme is already available at 1.59 lakh post offices. It allows investments for a period of two years. Under this scheme, women can invest anywhere between INR 1,000 and INR 2 lakh. A single account can be opened under this scheme, and interest is provided quarterly at a rate of 7.5% per annum.

Benefits of the Scheme:

1. Through the Women's Empowerment Savings Certificate Scheme, individuals who invest are eligible for tax benefits on the deposited amount.

2. All women who invest in the scheme can claim tax exemptions.

3. This scheme allows the opening of accounts for girls aged 10 or more for a period of 10 years or more.

4. Women across the country can become self-reliant by participating in this scheme.

5. This scheme is accessible at 1.59 lakh post offices across India.

6. In case of the unfortunate demise of the beneficiary woman before the account matures, the certificate can be transferred or redeemed.

Investment Process in the Scheme:

To invest in the scheme, you need to visit your nearest post office or bank branch. There, you will have to fill out the Women's Empowerment Savings Certificate Scheme application form. Provide your address and identity documents, then deposit the form at the post office or bank. Afterward, invest the desired amount, either by check or cash. A certificate receipt will be issued to you, confirming your investment. For scheme application, you will need documents like your Aadhar card, identity proof, passport-sized photo, email ID, and phone number.