Goa, 5 March 2024
With the upcoming International Women’s Day on 8th March 2024, the Goa Postal Division has issued an appeal to women to avail themselves of the Mahila Samman Savings Certificate. In a bid to empower women and foster a culture of savings, the Government of India introduced the Mahila Samman Savings Certificate, 2023, a small savings scheme dedicated to women beneficiaries.
The scheme, which aims at not only securing women’s financial futures, but the economic empowerment of daughters, can be availed at the nearest post office.
The Mahila Samman Savings Certificate, 2023 presents a host of salient features and benefits aimed at empowering women and securing their financial future. Women have the flexibility to open an account either in their name or on behalf of a minor girl child by the guardian. The investment term period spans 2 years, ensuring a dedicated avenue for wealth accumulation.
Accounts will mature after 2 years from the opening date, providing a structured approach towards financial planning. To initiate the account opening process, essential documents such as two photographs, the birth certificate of the girl child (if applicable), along with PAN card and Aadhaar card copies of either parent, are necessary prerequisites.
With an attractive interest rate of 7.5% per annum, credited quarterly and compounded, the scheme presents an enticing opportunity for financial growth. Moreover, investors can withdraw up to 40% of the balance after one year from the date of opening, offering a degree of liquidity when needed.
The scheme also imposes a reasonable account limit, allowing individuals to open any number of accounts within a maximum limit of Rs. 2,00,000/-. However, a prudent measure mandates a time gap of 3 months between existing accounts and new openings, ensuring a balanced approach to investment.
The Mahila Samman Savings Certificate, 2023, emphasizes inclusivity, with no age limit for investors, and ensures flexibility in investment with a minimum deposit of Rs. 1000/-
This initiative, announced in the Union Budget FY 2023-24 by the Central Government, aims at nurturing the habit of financial prudence among the women of India. The scheme, operational since 1st April 2023, is set to conclude on March 31, 2025.
* * *
PIB Goa | GSK / DR
