For celebrating Azadi Ka Amrit Mahotsav, a one-time new small savings scheme, Mahila Samman Savings Certificate, has been made available for a two-year period for investment up to March 2025. This will offer deposit facility upto 2 lakhs in the name of women or girls for a tenor of 2 years at fixed interest rate of 7.5 per cent with partial withdrawal option.

Mahila Samman Savings Certificate is a risk-free scheme dedicated towards Women’s and Girls of all age groups. This scheme has been designed with the intent of encouraging women and Girls to save and invest. The account opened under this scheme should be a single holder type account.

Mahila Samman Savings Certificate


Mahila Samman Savings Certificate scheme is a small savings scheme backed by the government. Hence, it does not have any credit risk. This can be applied through all the post offices.

Through an e-gazette announcement published on June 27, 2023, the Department of Economic Affairs, Ministry of Finance, authorised all Public Sector Banks and qualified Private Sector Banks to adopt and operationalize the Mahila Samman Savings Certificate, 2023

The Mahila Samman Savings Certificate scheme can now be purchased at Post Offices and qualified Scheduled Banks. Some of the banks like Punjab National Bank, Bank of India, Bank of Baroda, Canara Bank etc. have already started this scheme in their banks.


The Mahila Samman Savings Certificate can be done only in the name of a girl child or woman. A woman or the guardian of a minor girl child can open a Mahila Samman Saving Certificate scheme.

How to Open a Mahila Samman Savings Certificate?

Women and guardians of a girl child can open a Mahila Samman Savings Certificate scheme by following the below steps: 

  • Visit the nearest Post Office branch and get the form. Or you can directly apply after downloading the from from the post office website. You can also visit to the bank as well.
  • Fill out the Post Office address under the ‘To The Postmaster’ section.
  • Fill in your name in the given space and mention the account as ‘Mahila Samman Savings Certificate’. 
  • Fill out the account type, payment and personal details.
  • Fill out the declaration and nomination details.
  • Submit the form with the required documents.
  • Make the deposit in the Post Office through cash or cheque.
  • Receive the certificate that serves as proof of investment in the Mahila Samman Savings Certificate scheme.

Mahila Samman Savings Certificate Download

Documents Required for Mahila Samman Savings Certificate Account

  • Application form
  • KYC documents, such as an Aadhaar card, Voter ID, driving license and PAN card 
  • KYC form for new account holders 
  • Pay-in-Slip 

Deposit Limits

The minimum deposit amount under the Mahila Samman Savings Certificate is Rs.1,000 in multiples of rupees one hundred. The maximum deposit amount is Rs.2 lakh in one account or all Mahila Samman Savings Certificate accounts held by an account holder. A woman or guardian of a girl child can open a second Mahila Samman Savings Certificate account after a minimum gap of three months from the opening of the existing account


The maturity period of the Mahila Samman Savings Certificate account is two years. Thus, the maturity amount will be paid to the account holder after two years from the account opening date. 

Tax Benefits

Tax Deducted at Source (TDS) is not deducted from the interest received under this scheme. However, CBDT notified that TDS would apply to the Mahila Samman Saving Certificate Scheme. As per Section 194A of the Income Tax Act, TDS will apply only when the interest received from the post office savings scheme in a financial year is more than Rs.40,000 or Rs.50,000 (in the case of senior citizens). Since the interest amount of this scheme for a maximum of Rs.2 lakh investment for two years does not exceed Rs.40,000, TDS is not deducted from the interest received under the Mahila Samman Saving Certificate Scheme.

Interest Rate of Mahila Samman Savings Certificate

This scheme has a fixed interest rate of 7.5% p.a., much higher than most bank Fixed Deposits (FDs) and other popular small savings schemes. The interest will be credited quarterly and paid at the time of closure of the account. 

Account closure

After six months from the day the account was opened, the customer may also request account closure with a 2% penalty or at their discretion. The appropriate interest rate will then be 5.5%.

Partial withdrawal

After one year from the date of account opening, account holders can make partial withdrawals of up to 40% of the eligible balance.

Premature closure Mahila Samman Savings Certificate

In the event of the account holder’s death, the account can be closed prematurely. Premature closure is also possible in exceptional cases of compassion, such as the account holder’s life-threatening sickness or the death of the guardian, if the operation or continuance of the account causes the account holder undue hardship.

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