Post Office New small savings schemes: A new savings scheme has been started in post offices across the country. The government has started this scheme from April 1, 2023, with the aim of making women financially strong.
Women will now be able to buy Mahila Samman Saving Certificate (MSSC) from post offices. The Finance Ministry, while issuing notification for Mahila Samman Savings Certificate, 2023, has made it available in 1.59 lakh post offices with immediate effect.
This scheme was announced by the Union Finance Minister Nirmala Sitharaman in the budget of 2023-24 on the occasion of ‘Amrit Mahotsav of Independence’ and is an important step towards financial inclusion and empowerment of women including girls. The scheme has flexible investment and partial withdrawal options with a tenure of 2 years. In this, with a maximum investment of Rs 2 lakh, compound interest of 7.5 percent will be available quarterly. The scheme is valid for a period of two years till March 31, 2025.
If you invest in Women Savings Certificate in March 2023, you can withdraw money from this scheme till March 2025. At the same time, you can definitely make partial withdrawals during these two years.
Investment limit increased in MIS
The Monthly Income Account (MIS) Scheme 2019 has been amended through the National Savings (Monthly Income Account) (Amendment) Scheme, 2023 and the maximum investment limit has been increased from Rs 4.5 lakh to Rs 9 lakh for single account and joint account with effect from 1 April 2023 For Rs. 9 lakh to Rs. 15 lakh has been increased. Similarly, the investment limit in Senior Citizen Savings Scheme has been increased from Rs 15 lakh to Rs 30 lakh.
More interest started on small savings
Interest rates on all small savings schemes, except PPF, have also been revised by increasing them from April 1, 2023. Small savings customers of the post office will benefit more from these measures. Along with this, more investment will be attracted in these schemes through post offices especially in rural areas and among girls, women, farmers, artisans, senior citizens, factory workers, government employees, small traders and other sections of the society. They will get better returns on the investments made in small savings schemes.
