Mahila Samman Bachat Patra Yojana 2023

Mahila Samman Bachat Patra Yojana 2023

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Mahila Samman Bachat Patra Yojana | Mahila Samman Bachat Patra Yojana 2023

The Government of India has introduced Mahila Samman Bachat Patra Yojana 2023 (Mahila Samman Bachat Patra Yojana), a savings yojana designed to empower women financially. This user-friendly yojana offers various benefits including attractive interest rates, hassle-free access to funds and tax benefits. To avail these benefits, women can open a savings account in a government-owned bank and make a minimum monthly deposit.

Mahila Samman Bachat Patra Yojana 2023

The yojana offers a fixed rate of interest that is higher than a regular savings account, making it an excellent option for women to increase their savings. Further, the deposited amount is eligible for tax benefits under Section 80C of the Income Tax Act. In case of emergencies like medical or education expenses, Mahila Samman Bachat Patra Yojana 2023 provides easy access to funds.

Mahila Samman Bachat Patra Yojana 2023 provides an additional benefit to women to withdraw their savings without incurring any penalty. Moreover, in case of change of residence, the savings account can be easily transferred from one place to another.

Key Highlights Mahila Samman Bachat Patra Yojana

article name Mahila Samman Bachat Patra Yojana 2023
start date of the yojana 1 February 2023
launch of the plan by Union Finance Minister Nirmala Sitharaman
Beneficiary Every woman / girl of India
annual interest rate 7.5% interest rate
Yojana Benefit (Years) only for 2 years
financial budget session of the plan 2023-2024
last year of the plan till 2025
Beneficiary age to apply not yet determined
official website not yet released

Mahila Samman Bachat Patra Yojana

Mahila Samman Bachat Patra Yojana is a special savings yojana designed only for women in India. This is a great way for women to save their money safely and reliably while also getting a decent interest rate. To open an account, women can start with a minimum deposit of just Rs 100 and keep adding to it whenever they want. The interest rate on the account is set by the government and may change from time to time, but you can be sure that your money will earn interest while it is in the account. Also, you can withdraw your money anytime without any penalty.
This is a fixed deposit that lasts for five years and is available through Indian Post Offices. Mahila Samman Bachat Patra Yojana also provides tax benefits under Section 80C of the Income Tax Act, 1961 and allows for partial withdrawal. It also includes a nomination facility, making it an excellent investment option for women looking to secure their future while enjoying the tax benefits offered by the government.

Women’s Honor Savings Details

Name of Yojana  Mahila Samman Bachat Patra Yojana
The yojana launched by  Finance Minister Nirmala Sitharaman
MSSC Yojana Commencement Date  1st April 2023
Duration of stay  2 years
Interest rate  7.3%/year
Minimum Investment  Rs. 100
Maximum Investment  Rs. 2,00,000
Documentation  Aadhaar Card, PAN Card, Email ID and Photos

Objective of Mahila Samman Bachat Patra Yojana

The primary objective of this yojana is to promote financial independence among women. To achieve this goal, the government has launched many other yojanas for women besides this one. These yojanas are designed to empower women and provide them with the tools they need to take control of their financial future. The government continues to introduce new initiatives to support women’s financial independence, ensuring that they can seize every opportunity to succeed.

Mahila Samman Bachat Patra Yojana Calculator

If you choose to enroll in this plan and invest Rs 2 lakh, you will get the full amount after 2 years plus 7.5% interest rate. This yojana is fully beneficial with no risk involved.

Main feature of Mahila Samman Bachat Patra Yojana

  • This yojana is called “Mahila Samman Bachat Yojana” and is mainly for women.
  • Women can invest ₹200,000 in this yojana for 2 years and any woman or girl can open an account in this yojana and invest till March 31, 2025.
  • After the maturity period specified in the yojana, the total deposit along with interest will be returned to the woman.
  • If a woman needs money during her period, the government will provide some relief.
  • The interest rate announced by the government in this yojana is 7.5% per annum.
  • Women will get tax exemption on money deposited in the yojana.
  • According to the government statement, any woman who invests in this yojana will get tax exemption.
  • Unlike other savings yojanas, the interest rates in this yojana will remain the same.
  • The biggest advantage of this yojana is that women will benefit faster as compared to other savings yojanas.
  • Through this yojana, women can become financially independent and do not have to depend on anyone.

Mahila Samman Savings Yojana Eligibility

  • Only women can apply for this yojana.
  • Women at least 18 years of age and above
  • Further information on which women may be eligible for this yojana is not currently available.
  • Any information regarding this matter will be included in this article as soon as it is provided by the government.

Mahila Samman Bachat Patra Yojana Document

  1. Photocopy of Aadhaar Card
  2. Photocopy of PAN card
  3. phone number
  4. Email Id
  5. Passport size color photograph
  6. Signature or thumb impression
  7. Other documents
  8. Helpline number

Mahila Samman Saving Helpline No

The government has not provided any information about the application process for the Mahila Samman Bachat Yojana yojana, and there is no helpline number available for the yojana. Therefore, we are currently unable to provide you the helpline number for the yojana. As soon as we receive the helpline number, we will include it in this article so that you can contact the Mahila Samman Bachat Certita toll-free number to get information about the yojana or register your grievances.

How to Apply for Mahila Samman Bachat Patra Yojana (MSSC)

Follow these steps to apply Mahila Samman Bachat Yojana (Mahila Samman Bachat Patra Yojana).
  1. Find your nearest post office and visit them to know about the yojana.
  2. Fill the application form with your personal and financial details as well as nomination details.
  3. Submit the form and supporting documents, such as proof of identity and address.
  4. Deposit your chosen amount in cash or by check.
  5. Get a certificate confirming your investment in Mahila Samman Bachat Certificate (Mahila Samman Bachat Yojana).

FAQ

What is Mahila Samman Bachat Patra Yojana?

Mahila Samman Bachat Yojana is a savings plan designed for women and offers a fixed return on investment. This yojana is offered by India Post Office and can be availed at any post office across India.

Who is eligible for this yojana?

This yojana is designed for women only, and any Indian citizen woman can invest in this yojana. This includes single and joint account holders.

What is the minimum and maximum investment amount in the yojana?

The minimum investment amount in Mahila Samman Bachat Patra Yojana is Rs. 100/-, and a maximum investment amount of Rs. 4.5 lakhs.

What is the tenure of Mahila Samman Bachat Patra Yojana?

The tenure of Mahila Samman Bachat Patra Yojana is five years. However, the yojana also offers options for premature termination.

What is the interest rate offered under this yojana?

The interest rate offered under this yojana is 7.3% per annum, compounded annually.

Can investments be made jointly?

Yes, investments can be made jointly. Joint account holders can be any two adults.

Is there any penalty for early closure of account?

Yes, there is a penalty for premature account closure. The penalty varies depending on the duration of the investment and is revised by the government from time to time.

Is the interest earned under the yojana taxable?

Yes, interest earned under this yojana is taxable. However, the investment amount can be claimed as tax deduction under Section 80C of the Income Tax Act.

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