what is mahila samman savings certificate

The Mahila Samman Savings Certificate is a special savings scheme introduced by the Indian government to promote financial empowerment for women and girls. It is a risk-free scheme available for a two-year period, from April 2023 to March 2025, and offers a maximum deposit facility of up to Rs. 2 lakh at a fixed interest rate of 7.5% per annum. The scheme is designed to encourage women and girls to save and invest, and it can be opened only in the name of a girl child or woman. The account can be closed prematurely in certain circumstances, such as the death of the account holder. The scheme is available through post offices and authorized banks, and it is aimed at fostering financial independence and security for women and girls.