What is the Mahila Samman Savings Certificate (MSSC) and who is eligible?

The Mahila Samman Savings Certificate (MSSC) is a sovereign small savings scheme launched by the Ministry of Finance in Union Budget 2023. It is designed exclusively for women and minor girls (opened by a guardian). It offers a guaranteed 7.5% interest rate compounded quarterly for a fixed 2-year tenure.

What are the minimum and maximum deposit limits in MSSC?

The minimum deposit in MSSC is ₹1,000 (in multiples of ₹100), and the maximum cumulative limit is ₹2,00,000 (₹2 Lakh) per individual woman across all accounts, with a mandatory 3-month gap between opening multiple accounts.

What is the maturity value of a maximum ₹2,00,000 deposit in MSSC?

At a 7.5% annual rate compounded quarterly, a ₹2,00,000 deposit yields ₹32,044 in total interest over 2 years (8 quarters), resulting in a guaranteed maturity proceeds of ₹2,32,044.

Is partial withdrawal permitted under the MSSC scheme?

Yes. Depositors can make a single partial withdrawal of up to 40% of the eligible balance after 1 year (12 months) from the date of account opening.

What is the premature closure penalty in MSSC?

Premature withdrawal is not allowed before 6 months. After 6 months, an account can be closed prematurely at the depositor's request, in which case interest is recalculated at 2% less than the contracted rate (5.5% p.a.). In cases of death or critical medical emergencies, full contracted rate (7.5%) is paid.

Is TDS deducted on Mahila Samman Savings Certificate interest?

No. Under CBDT Notification No. 27/2023, no Tax Deducted at Source (TDS) under Section 194A is deducted by post offices or banks on MSSC interest. However, interest income is taxable under 'Income from Other Sources' at your applicable income tax slab rate.

👩

Mahila Samman Savings Certificate (MSSC)

Calculate maturity value and quarterly compounding interest for the Govt 2-year women savings scheme.

🏛️ Official Rate: Rate as of 31 October 2026 (7.5% p.a.)•India Post Official Source•Verification: Official Circular Sourced

✓ 100% Free 👤 No Login ⚡ Exact Actuarial Math 🔒 100% In-Browser Privacy

Sovereign Guaranteed (Budget 2023) • 7.5% p.a. • Zero TDS

Mahila Samman Savings Certificate (MSSC) Calculator

Calculate 2-year maturity returns for the Government of India's flagship small savings scheme exclusively for women and girls. Features 7.5% p.a. quarterly compounding, 40% partial withdrawal after 1 year, ₹2 Lakh statutory maximum cap, and post-tax CAGR analytics.

Deposit & Scheme Options

Deposit Amount (₹) One Lakh Rupees

Statutory minimum ₹1,000; maximum ceiling ₹2,00,000 per woman

Sovereign Interest Rate (% p.a.) Fixed Govt Rate: 7.5%

Fixed for the full 2-year tenure with quarterly compounding

Tenure

Mahila Samman Savings Certificate has a mandatory 2-year fixed maturity

1-Year Partial Withdrawal (Up to 40%) Simulate Partial Withdrawal

Investor Marginal Tax Bracket (For Net Post-Tax Yield)

Zero TDS at source by post offices/banks; interest taxable under 'Income from Other Sources'

Guaranteed Returns & Payout Overview

Total Guaranteed Maturity Proceeds (2 Years @ 7.5%)

₹1,16,022

Total Interest: ₹16,022 | Effective Annual Rate (AER): 7.71% | Pre-Tax CAGR: 7.71%

Principal Deposited ₹1,00,000

Total Cumulative Interest ₹16,022

1-Year Partial Withdrawal Limit ₹43,088

Total Cash Received ₹1,16,022

Net Post-Tax Payout ₹1,16,022

Effective Post-Tax CAGR 7.71%

Maturity Corpus Composition Principal: 86.2% | Interest: 13.8%

Principal Deposited Guaranteed Interest (7.5% Quarterly Compounded)

Quarter-by-Quarter Compounding & Balance Ledger

Statutory 8 Quarters (24 Months)

Quarter	Month	Opening Balance (₹)	Quarterly Compounded Interest (₹)	Partial Withdrawal (₹)	Closing Balance (₹)

Institutional Comparison: MSSC vs. SSY vs. POTD vs. Bank FD

Parameter	Mahila Samman (MSSC)	Sukanya Samriddhi (SSY)	Post Office 2Y TD	Bank 2Y FD
Interest Rate	7.5% p.a.	8.2% p.a.	7.0% p.a.	6.8% – 7.1% p.a.
Target Demographic	Women & girls of any age	Girl child under age 10	Any Indian resident	Any Indian resident
Tenure	2 Years fixed	21 Years (or till marriage)	2 Years	2 Years
Maximum Deposit Cap	₹2,00,000 aggregate cap	₹1,50,000 per financial year	No upper limit	No upper limit
Tax Benefits	Zero TDS; taxable under slab	EEE (100% Tax-Free)	Zero TDS; taxable under slab	10% TDS under Sec 194A
Partial Withdrawal	Up to 40% after 1 year	50% after age 18 for education	Not permitted	Allowed with penalty

Comprehensive Mahila Samman Savings Certificate (MSSC) Guide

Introduced in Union Budget 2023 under the Azadi Ka Amrit Mahotsav initiative, the Mahila Samman Savings Certificate (MSSC) provides women and girls across India with a secure, high-yield sovereign investment avenue. The scheme combines sovereign safety, fixed 7.5% quarterly compounding returns, and a short 2-year lock-in.

Key Statutory Guidelines

Who Can Open: Any woman for herself, or a natural/legal guardian on behalf of a minor girl child. There is no upper age limit.
Deposit Limits: Minimum investment is ₹1,000 in multiples of ₹100. The maximum investment ceiling across all accounts held by an individual is ₹2,00,000 (₹2 Lakh). A minimum interval of 3 months must be maintained between opening multiple accounts.
Quarterly Compounding: Interest is compounded quarterly at 7.5% per annum and credited to the account, giving an effective annual rate (AER) of 7.71%.
Partial Liquidity: After completed 1 year (12 months) from deposit opening, a single partial withdrawal of up to 40% of the account balance is permitted.

Premature Closure Rules

An MSSC account cannot be closed before 6 months from deposit date. Premature closure is governed by two statutory clauses:

Medical Grounds or Death (Full 7.5%) In the event of the death of the account holder or on extreme compassionate grounds (life-threatening illness of the account holder or guardian), the account may be closed and interest is paid at the full contracted rate of 7.5% p.a.

Voluntary Premature Closure (5.5%) Permitted after 6 months from the date of opening without specifying any medical reason. In this case, interest is paid at 2% less than the contracted rate (i.e. 5.5% p.a.).

Taxation & TDS Clarity

The Central Board of Direct Taxes (CBDT) issued Notification No. 27/2023 clarifying that no TDS shall be deducted under Section 194A on interest earned in MSSC. However, MSSC does not offer Section 80C deductions; interest is taxable as 'Income from Other Sources' according to the depositor's personal income slab.

Frequently Asked Questions (FAQs)

Where can an MSSC account be opened?

MSSC accounts can be opened at any India Post branch across India as well as authorized scheduled commercial banks (such as State Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank, and Union Bank of India).

Can a woman hold multiple MSSC accounts?

Yes. A woman can open multiple MSSC accounts, provided the total cumulative deposit across all accounts does not exceed the ₹2 Lakh ceiling, and there is a minimum time gap of 3 months between opening consecutive accounts.

What documents are required to open an MSSC account?

To open an account, submit Form 1 along with KYC documents (Aadhaar Card, PAN Card), passport-size photographs, and deposit cheque or cash. If opening for a minor girl, the minor's birth certificate is required.

Can MSSC be transferred to another branch or bank?

Yes. MSSC accounts can be transferred from one post office to another, from one bank branch to another, or between post offices and banks across India.

How does MSSC compare with 2-year Bank Fixed Deposits?

MSSC offers 7.5% sovereign-guaranteed interest with zero TDS, whereas most public and private banks offer 6.8% to 7.1% on 2-year FDs and deduct 10% TDS under Section 194A if interest exceeds ₹40,000.