# Mahila Samman Savings Certificate (MSSC) Calculator :

Mahila Samman Savings Certificate (MSSC) Calculator helps you in calculating the returns from MSSC Scheme within 1 simple step. The government of India has launched the MSSC Scheme in the 2023-24 Budget to commemorate ‘Azadi Ka Amrit Mahotsav’ and is a significant step towards financial inclusion and empowerment of the women, including the girls.

This two year tenure scheme offers an attractive and fixed interest of 7.5 % p.a. compounded quarterly with flexible investment and partial withdrawal options with a maximum ceiling of ₹ 2 lakh.

Having said that before you use the below MSSC Calculator also keep below things in mind:

1. Minimum Investment is of Rs.1000 and maximum upto Rs. 2 lakh in an account or all account hold by an account holder.
2. A time gap of three months shall be maintained between the existing account and the opening of other account.
3. An application for opening an account under this Scheme shall be made by a woman for herself, or by the guardian on behalf of a minor girl.
4. An individual may open any number of accounts subject to the maximum limit for deposit.
5. The current interest rate for Mahila Samman Savings Certificate is 7.5% p.a. compounded quarterly.
6. The current investment tenure for MSSC scheme is of 2 years.
7. As of now Account can only be opened in Post offices.

Now in order to use the Mahila Samman Savings Certificate (MSSC) Calculator you just need to enter the investment amount and leave the rest of the field as it is.

To better understand let us take an simple example suppose Mrs. Priti decided to start investing in MSSC scheme for herself as well as her daughter, let us say she opened two accounts and invested Rs. 4Lakh.

Assuming the current interest rate for MSSC which is at 7.5%

Total Invested Amount = ₹400,000

Total Wealth Gained On Investment made = ₹64,089

Amount You Will Get In Future (The value of your MSSC will be) Maturity Amount = ₹4,64,089

So, go ahead and check your returns easily using below Mahila Samman Savings Certificate (MSSC) Calculator.

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### Who can open Mahila Samman Savings Certificate (MSSC) Account?

1. By a woman for herself.
2. By the guardian on behalf of a minor girl.

### How much can I deposit in Mahila Samman Savings Certificate (MSSC)?

1. Minimum Investment is of Rs.1000 and maximum upto Rs. 2 lakh in an account or all account hold by an account holder.
2. A time gap of three months shall be maintained between the existing account and the opening of other account.

Under MSSC scheme, you can open multiple accounts, but the maximum total investment should be Rs 2 lakh only. and each account opened should have a three-month gap between the opening date of the existing account and the new account.

### How Much is the interest rate for Mahila Samman Savings Certificate (MSSC)?

1. Deposit shall eligible for 7.5 per cent interest per annum.
2. Interest will be compounded quarterly and credited in account and paid at the time of closure of account.

### What Is Maturity Period For Mahila Samman Savings Certificate (MSSC)?

The maturity period for MSSC Scheme is of 2 years, After two years from the date opening eligible balance will be paid to the depositor.

### Can I make a Partial Withdrawal Under MSSC Scheme?

Yes, the account holder shall be eligible to withdraw maximum up to 40% of the Eligible Balance once after the expiry of one year from the date of opening of the account but before the maturity of the account.

### Can I Make Pre-mature closure of Mahila Samman Savings Certificate (MSSC) Account?

Yes, you can do pre-mature closure of MSSC Account but not before completing six-months however under following conditions you can close account such as give below:

1. On the death of the account holder.
2. In cases of extreme compassionate grounds such as medical support in life-threatening diseases of the account holder or death of the guardian, that the operation or continuation of the account is causing undue hardship to the account holder, it may, after complete documentation, by order and for reasons to be recorded in writing, allow premature closure of the account.
3. Where an account is prematurely closed under above mentioned conditions (1,2) the interest on principal amount shall be payable at the rate applicable to the Scheme for which the account has been held (7.5%).
4. Premature closure of an account may be permitted, any time after the completion of six months from the date of opening of an Account on an application in Form-4, for any reason other than provided under (1,2) the account shall be eligible only for the interest rate less by 2% (e.g. 5.5%.) than the rate specified in this Scheme.

### How to open Mahila Samman Savings Certificate (MSSC) Account?

1. To open an MSSC Account Submit Account Opening Form which either can be downloaded from post office website, or can get it physically in a post office.
2. Keep your KYC Document such as (Aadhaar and PAN card) handy and incase if you are a new account holder in Indian Post, you must also submit the KYC form.
3. After submitting the form and making the deposit through cash or cheque the post office will issue the MSS Certificate.

### Is There any Tax benefit under Mahila Samman Savings Certificate (MSSC) Scheme?

As of now the government has not given any tax-benefit under MSSC Scheme, as this may be the first tenure of the scheme the government may bring some relaxation in the next 2024-2025 budget till then normal taxation as per the slab rate can be assumed for this scheme.

However, if you are looking to save taxes than there are many other tax-saving investments that qualify for Section 80C of the Income Tax Act, check out below:

### How Much Can I get From Investing In MSSC Scheme?

The returns from the MSSC Scheme is currently fixed at 7.5% p.a. compounder quarterly so suppose if you are opening multiple accounts and making an investment of Rs. 10 lakh for two years than your maturity amount will be Rs. 11,60,222 which means the total wealth gained on investment of Rs. 10 lakh is Rs. 1,60,222.

Check out the below image taken from moneycontain MSSC Calculator:

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## Conclusion:

I hope you have tried calculating the returns by using the moneycontain Mahila Samman Savings Certificate (MSSC) Calculator, doing a manual calculation takes much of time, therefore feel free to use the MSSC calculator anytime you want.

Doing an investment with less risk may give less returns but what is most important is the peace of mind. Moreover, the returned from MSSC Scheme are guaranteed and backed by the government.

The interest rate may again go high in future for MSSC scheme depending upon the prevailing situation in economy which currently is facing global crisis including India.

In my opinion if you are a women, have women’s in your family or have a girl child than you can certainly make investment in MSSC Scheme without any doubt.

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Note: Please do not take this as any recommendation, to trade or invest. This is just for reference, to make you understand more about the usage of Mahila Samman Savings Certificate (MSSC) Calculator and its importance, under no circumstances intended to be used or considered as financial or investment advice, a recommendation or an offer to sell, or a solicitation of any offer to buy any securities or other form of financial asset.