Mahila Samman Patra Calculator

Mahila Samman Patra Yojana: Empowering Women in India

The Mahila Samman Patra Yojana is a Savings Certificate Scheme launched by the Government of India to empower women financially and promote their economic independence. The scheme is designed to provide a secure and attractive investment option for women, enabling them to save and earn interest on their deposits.

Key Features and Benefits:

1. Interest Rate: The Mahila Samman Patra Yojana offers an attractive interest rate of 7.5% per annum, compounded annually.

2. Tenure: The scheme has a fixed tenure of 5 years, with an option to extend for another 5 years.

3. Minimum Deposit: The minimum deposit amount is ₹200, and the maximum deposit amount is ₹10 lakhs.

4. Tax Benefits: The scheme provides tax benefits under Section 80C of the Income Tax Act, 1961.

5. Transferability: The certificate can be transferred from one post office to another.

Eligibility Criteria:

1. Age: The scheme is open to women aged 18 years and above.

2. Residency: The applicant must be a resident of India.

3. Income: There is no income limit for eligibility.

4. Account Holder: A woman can hold the account in her own name or jointly with another woman.

Application Process:

To apply for the Mahila Samman Patra Yojana, follow these steps:

1. Obtain the Application Form: Collect the application form from a nearby post office or download it from the official website of the Department of Posts.

2. Fill the Application Form: Fill the application form carefully, providing all the required details, such as name, address, date of birth, and income.

3. Attach Required Documents: Attach the following documents:

         * Identity proof (Aadhaar card, voter ID card, or passport)

         * Address proof (Aadhaar card, voter ID card, or passport)

         * Age proof (birth certificate or school leaving certificate)

         * Income proof (salary slip or income certificate)

4. Deposit the Minimum Amount: Deposit the minimum amount of ₹200 in cash or by cheque/draft.

5. Submit the Application: Submit the completed application form, along with the required documents and deposit amount, at a nearby post office.

6. Receive the Certificate: After verification, the post office will issue the Mahila Samman Patra certificate, which can be collected from the post office.

Important Notes:

1. KYC Compliance: The applicant must comply with Know Your Customer (KYC) norms, which require providing identification and address proof.

2. Nomination: The applicant can nominate a beneficiary to receive the payment in case of her death.

3. Loan Facility: A loan facility is available against the Mahila Samman Patra certificate, subject to certain conditions.

By investing in the Mahila Samman Patra Yojana, women can enjoy a secure and attractive return on their savings, while also promoting their economic independence and empowerment.