Mahila Samman Savings Certificate (MSSC) is a one-time 2-year savings scheme exclusively for women and girls — 7.5% p.a. interest with quarterly compounding. Maximum investment ₹2 lakh. The scheme runs only until 31 March 2025 (deposit deadline).
What is Mahila Samman?
Announced in Budget 2023 as a women-specific savings scheme, Mahila Samman Savings Certificate (MSSC) is a small-savings instrument run by India Post and authorised banks. Maximum deposit ₹2 lakh per individual (a woman or guardian of a girl), tenure 2 years, interest 7.5% per annum compounded quarterly.
Eligibility: any Indian woman (no minimum age — guardian can open for a girl child). Multiple accounts allowed up to the ₹2 lakh combined cap. The scheme is a one-time offer — deposit window closes 31 March 2025; existing deposits continue to maturity.
How MSSC interest and maturity work
Interest is calculated quarterly at 7.5% per annum (so 1.875% per quarter), compounded into the principal. So a ₹2 lakh deposit grows to ~₹2.32 lakh at the end of 2 years.
Partial withdrawal: up to 40% of balance allowed after 1 year. Premature closure permitted any time but with a reduced interest rate. Tax treatment: interest is taxable as 'income from other sources'; no TDS on the small amounts typically involved (interest stays below the ₹40K TDS threshold for a single ₹2L account).
How to use this calculator
Enter investment amount
Up to ₹2,00,000 maximum across all your MSSC accounts. Multiple accounts allowed but combined cap applies.
Confirm rate
7.5% p.a. (fixed for the 2-year tenure — won't change after deposit).
Read the maturity amount
Calculator shows the ₹32,000-ish interest you'll earn on ₹2L over 2 years.
When to use it
Short-term goal savings for women
If a woman has a 2-year financial goal (down payment, kid's first-year college fees), MSSC gives 7.5% guaranteed — better than most 2-year FDs. Better suited to short horizons than long-lock PPF/SSY.
Diversification within women-targeted schemes
For women with daughters, combining SSY (15-year, 8.2%, girl-child only) and MSSC (2-year, 7.5%, women generally) covers both long-term and short-term safe-savings buckets.
Common mistakes to avoid
Treating MSSC as tax-free
Interest is taxable. The amount is small enough that TDS doesn't apply, but you must report it as 'income from other sources' in your ITR.
Missing the deposit deadline
The scheme deposit window closes 31 March 2025. Plan your deposit ahead — last-minute applications can be delayed by bank processing.