Mahila Samman Savings Certificate or Bank FD, where to invest? Know the interest of both

Mahila Samman Savings Certificate vs Bank FD: year 2023 While presenting the budget speech, Finance Minister Nirmala Sitharaman has launched the ‘Mahila Samman Savings Certificate Scheme’ scheme to make the women of the country self-reliant. This is a small savings certificate scheme started for half the population, in which women as well as girls can become self-sufficient by investing. Apart from this, a large number of women in the country also prefer to invest in fixed deposit schemes because there is no risk involved. If you also want to invest in one of the schemes of Mahila Samman Savings Certificate and FD, then we are giving you information about some special features of both the schemes. Let us know from where you are getting more returns out of both these schemes-

Know the special things of MSSC-

Mahila Samman Saving Scheme is specially designed for women. Under this scheme, you can invest up to a maximum of Rs 2 lakh for two years. In this Small Saving Scheme, you will get an annual return of 7.5 percent. The special thing about this scheme is that it is giving more returns to its customers than most of the small saving schemes like NSC, PPF, SSY etc. By investing in this scheme, you get a rebate of Rs 1.5 lakh under Section 80C of Income Tax. The government has also given the facility of partial withdrawal on this scheme. Under this scheme, you can open an account in any bank or post office from April 1. The tenure of this account will be from March 2023 to April 2023.

How much return is available on SBI FD-

Talking about the country’s largest public sector bank State Bank of India, this bank is offering interest rate ranging from 3.00% to 6.75% on FDs ranging from 7 days to 2 years to its ordinary citizens. In such a situation, the interest rate of State Bank’s Mahila Samman Savings Certificate is less by 0.75 percent. You can open FD account in any State Bank branch.

Which of the two schemes is getting more returns?

Let us tell you that apart from State Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank are offering interest rates ranging from 3% to 7% on FDs of up to 2 years to their customers. In such a situation, the interest rate available in Mahila Samman Savings Account is much higher than these bank FDs. In such a situation, if you are thinking of doing FD up to Rs 2 lakh in the bank, then investing in MSSC is a better option for yourself.

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