Mahila Samman Savings Certificate
in Telangana
Last updated:
Key dates and updates (Telangana)
Nationwide and Telangana-specific milestones. Verify on the official portal before you apply.
| Milestone | Date |
|---|---|
| Scheme launch |
Mahila Samman Savings Certificate in Telangana
Mahila Samman Savings Certificate is a government scheme available to eligible residents of Telangana.
Apply for Mahila Samman Savings Certificate in Telangana
Scheme Overview
The scheme aims to provide a secure savings option with assured returns for women. Through this scheme, 7.5% interest and flexible savings benefits are provided to women and minor girls.
Eligibility Criteria
- The applicants must have Indian citizenship.
- This scheme is only for women and girl children.
- Any Individual Woman can apply under the scheme.
- The minor account can also be opened by the guardian.
- There is no upper age limit, and women of all ages can avail the benefits of this scheme.
**Note:** An account opened under this Scheme shall be a single-holder type account.
> **Deposits:**
- An individual may open any number of accounts subject to the maximum limit for deposit and a time gap of three months shall be maintained between the existing account and the opening of other accounts.
- A minimum of ₹1000/- and any sum in multiples of one hundred rupees may be deposited in an account and no subsequent deposit shall be allowed in that account.
- A maximum limit of ₹2,00,000/- shall be deposited in an account or accounts held by an account holder.
> **Payment on maturity:**
- The deposit shall mature on completion of two years from the date of the deposit and the Eligible Balance may be paid to the account holder on maturity.
- In calculating the maturity value, any amount in fraction of a rupee shall be rounded off to the nearest rupee, and for this purpose; any amount of fifty paisa or more shall be treated as one rupee, and any amount less than fifty paisa shall be ignored.
> **Withdrawal from account:**
- The account holder shall be eligible to withdraw a maximum of up to 40% of the Eligible Balance once after the expiry of one year from the date of opening of the account but before the maturity of the account.
- In case of an account opened on behalf of a minor girl, the guardian may apply for the withdrawal for the benefit of the minor girl by submitting the specified certificate to the accounts office.
- In calculating the withdrawal from the account, any amount in fraction of a rupee shall be rounded off to the nearest rupee, and for this purpose; any amount of fifty paisa or more shall be treated as one rupee, and any amount less than fifty paisa shall be ignored.
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Benefits
**Investment Options:** Provide attractive and secure investment options for girls and women. - **Interest Rate:** Offers fixed interest of 7.5% per annum, compounded quarterly. - **Investment Limit:** The maximum investment ceiling is ₹2,00,000 with flexible investment options. - **Tenure:** The scheme has a duration of 2 years.
**Interest Credit:** Interest is compounded quarterly and credited to the account.
> **Note:**
The interest payable to the account holder in respect of any account opened or deposit made which is not in consonance with the provisions of this Scheme shall be payable at the rate applicable to the Post Office Savings Account.
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Required Documents
| # | Document |
|---|---|
| 1 | Passport |
| 2 | Driving license |
| 3 | Voter’s ID card |
| 4 | Job card issued by NREGA signed by the State Government officer |
| 5 | Letter issued by the National Population Register containing details of name and address |
Common questions in Telangana
Who can apply for Mahila Samman Savings Certificate in Telangana?
Eligible residents of Telangana who meet the scheme’s overall criteria can apply for Mahila Samman Savings Certificate. Refer to the eligibility section above for the complete checklist.
What documents are required for Mahila Samman Savings Certificate in Telangana?
Applicants in Telangana typically need identity proof (Aadhaar), state residency proof, bank account details, and any scheme-specific documents listed in the documents section.
What are the important dates for Mahila Samman Savings Certificate?
Key dates are summarized in the table on this page, from 1 April 2023 through 1 April 2023, based on values DeshSeva currently stores for this item.
Frequently Asked Questions
It is a small savings scheme introduced by the Government of India for women with a maturity period of two years. A woman or guardian of a girl child can open this account and deposit a maximum amount of [?]2 lakhs.