Any resident Indian woman, regardless of age, is eligible.
An account can be established for a minor girl by her natural or legal guardian.
ELIGIBILITY:
Only individual accounts are permitted. An account opened for a minor girl will be managed by the natural or legal guardian until she reaches adulthood.
TYPE OF ACCOUNT:
The minimum deposit is Rs. 1000/- and the maximum is Rs. 200,000/-.
The scheme offers an annual interest rate of 7.5%. Interest will be compounded quarterly and deposited into the account. Eligible interest will be disbursed upon closure, pre- closure, or partial withdrawal of the account.
After one year from the date of deposit, up to forty percent (40%) of the eligible balance can be withdrawn. This partial withdrawal option is accessible only once before maturity.
PARTIAL WITHDRAWAL:
The Mahila Samman Saving Certificate Scheme has been rolled out through banks and post offices across the country.