'Mahila Samman Savings Certificate'' scheme detais:
(a) Account Opening Eligibility:

(i) A woman can open an account for herself.
(ii) A guardian can open an account on behalf of a minor girl.


(b) Deposit Requirements:
(i) A minimum deposit of one thousand rupees, in multiples of one hundred rupees.
(ii) The maximum limit for the account or all accounts held by an account holder is two lakh rupees.
(iii) A time gap of three months must be maintained between opening an existing account and opening another account.


(c) Interest:
(i) Deposits are eligible for a 7.5 percent annual interest rate.
(ii) Interest will be compounded quarterly, credited to the account, and paid upon account closure.
(iii) Accounts opened or deposits made in contravention of rules will earn interest at the rate of a PO Savings Account.


(c) Withdrawal:
Up to 40 percent of the eligible balance can be withdrawn after one year from the account opening date.


(d) Premature Closure:
(i) In the event of the account holder's death.
(ii) On extreme compassionate grounds, such as the account holder's life-threatening illness or the guardian's death, supported by relevant documents.
Note: The scheme's interest will be paid on the principal amount. In case of premature closure, the interest rate will be reduced by 2 percent, for example, 5.5 percent.


(e) Maturity:
Eligible balance will be paid to the depositor after two years from the account opening date.


(f) Account Opening Procedure:
To open an account, follow these steps:
(i) Submit the Account Opening Form, along with KYC Documents (Aadhaar and PAN card), KYC form for new account holders, and a Pay-in-Slip or deposit amount/cheque at the nearest post office.

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