Empower Yourself | Hyderabad, April 4 (Maxim News): Mahila Samman Savings Scheme is a new small savings scheme aimed at encouraging women investors.
As part of Azadi Ka Amrit Mahotsav, the Central government has introduced this scheme for women empowerment in Budget 2023. It came into effect on April 1. Women can save or invest through this scheme Rs. 1,000 maximum per month and a minimum investment of Rs. 1.50 lakhs, the account can be opened at the Post office or any authorized bank. Additionally, the scheme allows emergency withdrawal after a year with some nominal penalty charges.
Mahila Samman Saving Scheme can be opened by women themselves or as a guardian on behalf of a minor girl child. Only one account can be opened in one’s name. Women investors should fill out Form-1
In this scheme minimum of Rs. 1,000 up to Rs. 2 lakhs can be invested. The interest rate of 7.5 percent per annum can be earned on the amount deposited in this scheme. This interest rate is compounded every three months and credited to the account.
According to the Ministry of Finance notification dated March 31, 2023. “Any account opener or depositor who does not comply with the provisions of this scheme shall pay the interest due at the applicable rate of Post Office Savings.
The deposit matures after two years from the date of deposit. Account holders can avail of the balance by submitting a Form-2 application. withdrawal can be made at any time after the completion of the first year from the date of account opening. The account holder can only withdraw up to 40 percent of the balance by submitting a Form-3 application. (Maxim News)
Next Story:
Commercial LPG Cylinder Price Hike Crosses Rs 3000
Commercial LPG Cylinder Price Hike rises by Rs 993 crossing Rs 3000 mark, impacting businesses amid global fuel tensions.
KLH Global Business School Showcases Innovation At Srujana 2026
Srujana 2026 KLH Global Business School highlights student innovation in animation gaming and creative technology in Hyderabad.
Laxman Slams BRS Future, Rules Out Alliance
Hyderabad, April 30: BJP MP Dr K Laxman strongly criticized the Bharat Rashtra Samithi over its political future in Telangana. He said the BRS has no future and compared the party to a dead snake. Here To Join Us On WhatsApp He stated that people gave the BRS the role of opposition. However, he alleged…
Minister Damodar Praises Osmania Hospital Medical Team For Rare Surgery
Hyderabad, April 30 (Maxim News): A rare liver transplantation was performed at Osmania General Hospital . Osmania doctors successfully completed a liver transplantation on an 18-month-old boy suffering from glycogen storage disease. The liver transplant was performed on the 10-kg baby. A part of the father’s liver was harvested and transplanted into the child. The…
Rain Forecast Brings Relief to Telugu States
Hyderabad, April 30 (Maxim News) : The rain forecast in Telugu states offers relief as the Meteorological Department predicts rainfall for the next three days. The update comes amid rising temperatures across Telangana and Andhra Pradesh. Here To Join Us On WhatsApp According to officials, a trough continues to influence weather conditions over the region.…
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page and Twitter and Instagram. For all the latest Hyderabad News updates
