Punjab National Bank (PNB) and Bank of Baroda (BoB) have recently increased the interest rates on fixed deposits (FD). In such a situation, if you are planning to get FD in these banks or any other bank, then before that you should also know about 'Mahila Samman Savings Certificate' (MSSC).
This is a special scheme for women. 7.5% annual interest is being given in this. A minimum of Rs 1000 to a maximum of Rs 2 lakh can be invested in this. In this one has to invest for 2 years. In such a situation, here we are telling you important things related to this scheme. With this you will be able to know where investing money will be more beneficial.
Will be able to withdraw money even before 2 years In special circumstances, this account can be closed before 2 years, but only after 6 months. However, if you do this, you will get only 5.5% interest instead of 7.5%. This interest will be given on the principal amount. Apart from this, you can withdraw 40% amount after 1 year.
You can also invest in the name of the girl child. Under this scheme, a woman can open an account for herself. Apart from this, parents (guardians) can also invest in 'Mahila Samman Savings Certificate' in the name of their daughter (minor). That means investment can be made in the name of a minor girl also.
Where and how can one open an account in this? You can open MSSC account in any post office and authorized banks. To open an account, you will have to submit KYC documents along with its form. for more information related to the scheme
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