Offers 7.5% Interest, Investment Cap Rs 2 Lk

The scheme was announced by the Union Finance Minister Nirmala Sitharaman during her Budget speech for this FY 2023-24

MUMBAI, July 7 (The CONNECT) – Canara Bank has rolled out the Mahila Samman Savings Certificate- 2023 scheme across India, which provides secured investment option for women or by the guardian on behalf of a minor girl.

The scheme was announced by the Union Finance Minister Nirmala Sitharaman during her Budget speech for this FY 2023-24.

The Scheme offers the flexibility in investment as well as partial withdrawal as per the eligible balance. An Individual may open any number of accounts subject to the maximum limit of Rs. two lakhs.

The deposits made shall bear interest at the rate of 7.5 percent per annum and interest shall be compounded on quarterly basis. The customer may invest as low as Rupees 1000 and in multiples of Rs. 100 thereafter within the maximum ceiling for a period of two years from the date of opening of the account until March 31,2025.