Mahila Samman Bachat Patra Yojana OR Mahila Samman Saving Certificate Scheme 2023- The Modi government has introduced Mahila Samman Bachat Patra Yojana in the Union Budget of 2023, which will be very beneficiary for women. In this Mahila Samman Bachat Patra Yojana 2023 scheme, women will get more interest than any other government bank or post office FD on depositing money. In this article, we will know what is Mahila Samman Bachat Patra Yojana 2023. What is its interest rate (2023) and how much money will be received after investing? What are the terms and conditions of account opening?
Mahila Samman Bachat Patra Yojana 2023
Mahila Samman Bachat Patra Scheme 2023 is a newly launched scheme by the Government of India. Mahila Samman Bachat Patra Yojana 2023 has been announced in the Union budget 2023. In this Mahila Samman Bachat Patra yojana 2023, women and girls will get 7.50 percent interest on depositing money. At present this is more than the FD, or RD scheme of any government bank or post office. Even in this Mahila Samman Savings Patra Yojana 2023, you get more interest than NSC (National Savings Card), Kisan Vikas Patra (KVP), and PPF account.
Mahila Samman Bachat Patra Yojana 2023 interest
|Mahila Samman Bachat Yojana||7.5% p.a|
|1-Year Post Office Time Deposit (FD)||6.6% p.a|
|2-Year Post Office Time Deposit (FD)||6.8% p.a|
|3-Year Post Office Time Deposit (FD)||6.9% p.a|
|5 Year Post Office Time Deposit (FD)||7.0% p.a|
|5 Year Post Office Recurring Deposit (RD)||5.8% p.a|
|PPF: PPF Account Scheme||7.1% p.a|
|NSC: National Savings Certificate Scheme||7.0% p.a|
|KVP: Kisan Vikas Patra Yojana||7.2% p.a|
|POMIS: Post Office Monthly Income Scheme||7.1% p.a|
Mahila Samman Bachat Patra Yojana 2023 Key Highlights
|Article Name||Mahila Samman Bachat Patra|
|Announced||Finance Minister Sitharaman|
|Category||Sarkari Yojana 2023|
|Beneficiary||Women and Girls|
|Objective||To provide interest at a fixed rate of 7.5 percent to women and girls|
|Application process||Not available yet|
|Official website||will be launched soon|
As we have mentioned above in this article that any woman or girl can deposit up to Rs 2 lakh in this Mahila Bachat scheme 2023. After 2 years, women or girls will get their entire money back, including deposit and interest. This way you can get a better return on your deposit. At present, accounts can be opened till March 25, 2025.
Who can open the Mahila Samman Bachat Patra Yojana account?
Any Indian woman or girl can open a Mahila Samman savings account in her name. There is no restriction of age limit. From a small girl to an elderly woman, women of any age can open this account. Foreigner or NRI women will not be allowed to open this account.
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Where can open the Mahila Samman Bachat Yojana account 2023?
Like other government savings schemes, the accounts of Mahila Samman Bachat Patra Yojana can also be opened in post offices or banks. Apart from all government banks, some major private banks will have the facility to open this Mahila Samman Bachat Yojana account. For your convenience, the list of public sector banks is given below-
- State Bank of India
- Bank Of Baroda
- Punjab National Bank
- Union Bank of India
- Canara Bank
- Indian Bank
- Bank of India
- Indian Overseas Bank
- Central Bank of India
- UCO Bank
- Punjab and Sind Bank
- Bank Of Maharashtra
How much money will have to be invested?
You can deposit up to Rs 2 lakh in the Mahila Samman Savings Letter Scheme 2023. No clear information was given about the minimum deposit limit in the budget 2023.
When will you get back your money?
Your money will be deposited for 2 years from the date of opening the account and after two years you will get your entire deposit and interest back from this Mahila Samman Savings Letter Scheme 2023.
|On depositing 1000 rupees||1155 rupees will be returned|
|On depositing 2000 rupees||2311 rupees will be returned|
|On depositing 3000 rupees||3467 rupees will be returned|
|On depositing 5000 rupees||5778 back in 2 years.|
|On depositing 10000 rupees||11556 rupees will be returned|
|On depositing 20000 rupees||23113 rupees will be returned|
|On depositing 50000 rupees||57781 rupees will be returned|
|On depositing 100,000 rupees||1,15,562 rupees will be returned|
|On depositing 200,000 rupees||2,31,125 rupees will be returned|
Present interest rate of Mahila Samman Savings Scheme?
The Indian government will pay a 7.5% interest rate per annum on Mahila Samman Bachat Yojana. The interest rate applicable on the date of opening of the account will remain the same till the maturity of the account. In between, even if the government changes the interest rate, it will not affect the already opened account.
Right now the government has not announced any method of interest calculation for Mahila Samman Savings Letter 2023. But experts estimate that like NSC (National Savings Certificate) and KVP (Vikas Vikas Patra), the interest rate on the Mahila Samman Savings Certificate account will also be calculated according to compound interest annually.
Documents for opening a Mahila Samman Bachat Yojana account?
To open the account of Mahila Samman Bachat Patra Yojana, the following documents will be required-
- Account opening form (available from the bank)
- Two colored passport-size photographs
- Aadhar card
- PAN card
Can I withdraw money in between if needed
Yes, after depositing money in Mahila Samman Bachat Patra Yojana, you can also withdraw some money from this account if there is any need in between.