Mahila Samman Savings Certificate: Under the government investment scheme Mahila Samman Savings Certificate for women and girls, there is a provision for partial withdrawal of up to 40 percent of the amount.

Mahila Samman Savings Certificate: The government is running many schemes to empower women financially. One of these is the Mahila Samman Savings Certificate Scheme. The investment deadline in this scheme of the post office is March 31, 2025. Now the post office has started the facility of partial withdrawal from this scheme.

You can withdraw this much money from the account

Under the Mahila Samman Savings Certificate Scheme, after one year of opening the account and before maturity, the account holders will be able to withdraw up to 40 percent of the amount deposited in it. This scheme was started on April 1, 2023, for two years. For example, the investment made in this account from April 30, 2023 is available for partial withdrawal from May 1, 2024. This way, you can keep some money with you as an investment and if needed, you can withdraw some amount and complete your work.

One time scheme applicable for two years

Mahila Samman Savings Certificate is a one time scheme applicable for two years. The government has not increased the investment time limit in this till now. You can invest from a minimum of Rs 1,000 to a maximum of Rs 2 lakh. This scheme gives a fixed interest rate of 7.5 percent per annum. This is different from many small savings schemes and bank FDs. In this, compound interest is received every quarter.

No tax exemption on interest

However, tax has to be paid on the interest amount. In this, you cannot avail tax exemption under section 80C, so the interest rates being deposited in the bank account under this should be declared in the income tax return under 'income from other sources'. Girls below 18 years of age can also open an account under the Mahila Samman Savings Certificate Scheme. It will be supervised by the guardian.