Mahila Samman Bachat Patra 2023
mahila samman bachat patra 2023 tax benefits interest rates calculator महिला सम्मान बचत पत्र how to apply for mahila samman bachat patra
Mahila Samman Bachat Patra 2023
Mahila Samman Bachat Patra is a savings scheme of the Government of India. This scheme has been started with the aim of giving more benefit on savings to women and girls. You can deposit up to Rs 2 lakh in this scheme. The government will give interest at the rate of 7.5% on your deposit. Your money will remain deposited for 2 years and after that the accumulated amount along with interest will be returned.
Deposit limit and interest rate: No clear information has yet been revealed about the minimum deposit limit in Mahila Samman Bachat Patra, but experts estimate that this account can be opened for at least Rs 1000. A maximum of Rs 2 lakh can be deposited. All the money you have to collect and deposit in one go. Your deposit will earn a fixed interest of 7.5%.
At present, a time limit of 2 years has been fixed for purchasing savings certificates. Any woman or girl can open its account by 31 March 2025 and can take advantage of the higher interest rate. On completion of the maturity period of the certificate, you will get back the entire amount, including your total deposit and interest. There will also be a freedom to withdraw some money from this account if there is a need.
Also Read : Sukanya Samriddhi Yojana
Objective of Mahila Samman Bachat Patra Scheme
The main objective of introducing the Mahila Samman Bachat Patra by the Government of India is to provide interest at a fixed rate of 7.5 per cent to the women of the country in the new savings scheme. So that women can save for their future by investing in this savings letter. Under this scheme, money can be deposited in the name of any woman or girl for 2 years. And if needed, some money can also be withdrawn in between. On completion of the maturity period, along with the total deposit amount, you will get the entire money back along with the interest.
How much money can be deposited in Mahila Samman Bachat Patra Scheme?
Under Mahila Samman Bachat Patra Yojana, no clear information has been made available about the minimum deposit amount, but according to experts, this account can be opened with at least 1000 rupees. Women and girls can deposit a maximum amount of up to Rs 2 lakh under this scheme. A time limit of up to 2 years has been set by the government for women to buy savings certificates. Under this scheme, any woman or girl of the country can open this account till March 31, 2025. And can get the benefit of higher interest rate. At the end of the maturity period of Mahila Samman Savings Patra, along with the total deposit amount, you will get the entire money back along with the interest. If required, you will also get a discount on withdrawing some money from this account.
Mahila Samman Bachat Patra will not be affected if interest rates change in between
Let us tell you that the new interest rates of all the small savings schemes operated by the Government of India are declared before the quarter, but any such change in Mahila Samman Bachat Patra will not affect the interest rate. In this savings certificate, you will get an interest rate of 7.5% for the entire period of 2 years. This means that you will get a guaranteed return on your deposited amount. Which will be a better account for you to save.
Also Read : Free Silai Machine Scheme
Quicker return of money as compared to other savings schemes
In Mahila Samman Bachat Patra, you will get your money back in only 2 years with good interest. While the account continues for 21 years under the government’s Sukanya Samriddhi Yojana, although the entire money can be withdrawn from the account at the age of 18 at the time of the girl’s marriage. Similarly, one has to wait for 15 years to get the money deposited in PPF account. But this is not the case in this scheme.
Benefits and Features of Mahila Samman Bachat Patra
- It has been announced to start Mahila Samman Bachat Patra on February 1, 2023, to give benefits on savings to the women and girls of the country.
- This account can be opened in Mahila Samman Bachat Patra for at least Rs 1000.
- A time limit of up to 2 years has been set for buying savings certificates.
- On the amount deposited by you, the government will give you interest at the rate of 7.5 percent.
- Mahila Samman Bachat Patra will get more interest than other government savings schemes like PPF, NSC.
- Your money will remain deposited for 2 years, after which you will get back the collected amount along with interest.
- Any woman or girl of the country can open this account by 31 March 2025.
- Any woman or girl can take advantage of higher interest rate by opening this account till March 30, 2025.
- To get the benefit of this scheme, women or girls of any age can open Mahila Samman Bachat Patra account.
- After depositing money in Mahila Samman Savings Account, you can also withdraw some money from this account in between if required.
- There will be no period restriction for you to withdraw money in this scheme.
- Empowerment of women will be promoted through this scheme.
Eligibility for Mahila Samman Bachat Patra
- To open Mahila Samman Bachat Patra account, the applicant must be a native of India.
- Only women and girls will be eligible to open an account under this scheme.
- Women or girls of any age can open Mahila Samman savings account.
- Women and girls of all class, religion, caste will be eligible to get the benefit of savings letter.
Gets more interest than FD, RD, PPF, NSC, KVP
At present, the government is paying interest at the rate of 7.5% per annum on the money deposited in Mahila Samman Bachat Patra. This is more than FD (Fixed Deposit Account) or RD of any bank or post office. Even more interest than many other savings schemes of the government like PPF, NSC, Monthly Income Scheme, etc. is being received on the Mahila Samman Bachat Patra.
|Mahila Samman Bavhat Patra||7.5% सालाना|
|1 Year Post Office Time Deposit (FD) Scheme||6.6% सालाना|
|2 Year Post Office Time Deposit (FD) Scheme||6.8% सालाना|
|3 Year Post Office Time Deposit (FD) Scheme||6.9% सालाना|
|4 Year Post Office Time Deposit (FD) Scheme||7.0% सालाना|
|5 Year Post Office Time Deposit (FD) Scheme||5.8% सालाना|
|PPF Account Scheme (PPF)||7.1% सालाना|
|National Savings Certificate Scheme (NSC)||7.0% सालाना|
|Kisan Vikas Patra Scheme (KVP)||7.2% सालाना|
|Post Office Monthly Income Scheme (MIS)||7.1% सालाना|
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