Mahila Samman Bachat Patra Scheme has been implemented by the Government of India for the welfare of the women of the country. Through this scheme, up to 02 lakh rupees can be invested in the name of a woman or girl and no tax will be charged on the deposited money. Along with this, the beneficiaries will get good interest at the rate of 7.5 percent. Due to which their economic condition will improve. How to get the benefit of this scheme and how to apply under it. To get all this information, you have to read this article till the end. So let’s know about Mahila Samman Bachat Patra Yojana.
Mahila Samman Bachat Patra Scheme has been started for the welfare of the women and girls of the country. This plan is a saving scheme. Under which women will get 7.5% interest on savings of 2 lakhs. This scheme will be applicable till March 2025. Let us tell you that the prescribed amount can be deposited in the महिला सम्मान बचत पत्र योजना in the name of daughter, sister or wife and the beneficiary women will be able to withdraw some part of the money deposited in this scheme. Along with this, there will be no tax on the deposited money.
Objective of Mahila Samman Bachat Patra Scheme
The main objective of the scheme is to provide interest at the rate of 7.5% in comparison to other savings schemes to the eligible women and girls of the country for opening accounts.
Overview
| Scheme Name | Mahila Samman Bachat Patra Scheme |
| Launched by | Government of India |
| Beneficiary | Women of India |
| Assistance Provided | Will get good interest on investing fixed amount in the name of woman or girl |
| Interest Rate | 7.5% p.a. |
| Lock-in Period | 2 years |
| Maximum Deposit | Rs. 2 lakh |
| Application Process | Online / Offline |
केंद्रीय बजट में महिलाओं को आर्थिक रूप से सशक्त बनाने व बचत के प्रति प्रोत्साहित करने हेतु "महिला सम्मान बचत पत्र" योजना की शुरुआत की गई।
इस योजना को देश की नारीशक्ति ने खूब सराहा है। गत 6 माह में इस योजना के तहत खोले गए 14.84 लाख खातों में ₹8,630 करोड़ की राशि जमा कराई गई है। pic.twitter.com/NCcMePdKAP
— Smriti Z Irani (@smritiirani) August 1, 2023
Provision of tax exemption under Mahila Samman Bachat Patra Yojana
- If your income is 9 lakh rupees annually, then you will have to pay tax on it.
- But if you deposit Rs 02 lakh in Mahila Samman Bachat Patra Yojana out of Rs 9 lakh in one year, then you can claim tax exemption by showing it as an investment while filing income tax return.
- You can deposit two lakh rupees in 02 years.
- Explain that there is tax exemption on annual income of Rs 7 lakh.
Mahila Samman Bachat Patra Yojana – Income tax slab number
The number of income tax slabs has been reduced from 06 to 05.
- 5% on Rs.03 to 06 lakhs
- 10% on 06 to 09 lakh rupees,
- 15% on Rs.09 lakh to Rs.12 lakh
- Rs 12 lakh to Rs 15 lakh 20%
- Income above Rs 15 lakh will be taxed at 30%.
Deposit Limit & Interest Rates:
- Maximum investment – Rs 2 lakh
- Fixed Interest Rate – 7.5%
Mahila Samman Bachat Patra Scheme – Deposit Tenure and Maturity
- Duration of Savings Certificate – 2 years
- Full money back – including your total deposit plus interest, on maturity of the certificate
- Facility to withdraw money from the account – as and when required
- Benefit of the scheme – 31 March 2025
No age restriction for opening Mahila Samman Savings Account
- Mahila Samman Savings account can be opened for women or girls of any age.
- Let us tell you that Sukanya Samriddhi Yojana has been started for girls. From which the applicant gets more interest and tax exemption, but the account of this scheme can be opened only for girls below 10 years of age.
- Whereas women of any age will get the benefit of Mahila Samman Bachat Patra Yojana.
Under Mahila Samman Bachat Patra, the applicant gets more interest than FD, RD, PPF, NSC, KVP
The government is getting 7.5% interest on the money deposited in Mahila Samman Bachat Patra. Which is more than FD or RD of any bank or post office. You will get more interest on Mahila Samman Bachat Patra than other government savings schemes like PPF, NSC, Monthly Income Scheme. You have been given a score table below, on the basis of which you will be able to know which savings scheme is the best –
| 1 Year Post Office Time Deposit (FD) Scheme | 6.6% Annual |
| 2 Year Post Office Time Deposit (FD) Scheme | 6.8% Annual |
| 3 Year Post Office Time Deposit (FD) Scheme | 6.9% Annual |
| 5 Year Post Office Time Deposit (FD) Scheme | 7.0% Annual |
| 5 Year Post Office Recurring Deposit (RD) Scheme | 5.8% Annual |
| PPF Account scheme | 7.1% Annual |
| National Savings Certificate Scheme | 7.0% Annual |
| Kisan Vikas Patra Scheme | 7.2% Annual |
| Post office monthly income scheme | 7.1% Annual |
NOTE: Banks get less interest on FD / RD account than Post Office FD or RD account. At present, Sukanya Samriddhi Account (7.6%) and Senior Citizen Saving Scheme (8.0%) offer higher interest rate than Mahila Samman Bachat Patra Yojana. But none of them is allowed to open an account. Talking about Sukanya Samriddhi Yojana, its account is opened only in the name of a girl below the age of 10 years, while the account of Senior Citizen Saving Scheme is opened only for senior citizens or retired employees above 60 years of age.
Whereas the account of Mahila Samman Bachat Patra can be opened for every age. Out of which the applicant gets more benefit as compared to other savings schemes.
Also Check: New Swarnima Yojana For Business Women
Eligibility Criteria
- The applicant must be a permanent resident of the country.
- Women and girls are eligible to take advantage of the scheme.
Documents required
- Birth Certificate (Account Beneficiary)
- PAN Card, Ration Card, Driving License
- Address proof of passport, ration card, electricity bill, telephone bill,
- Driving license.
- Passport size photo
- Documents required by bank or post office
- Mobile number
महिला सम्मान बचत पत्र योजना के लाभ | Benefits of Mahila Samman Bachat Patra Scheme
- Mahila Samman Bachat Patra Yojana is a one-time new small savings scheme.
- Under this scheme, a woman will get the benefit of deposit facility (investment) up to Rs 02 lakh for a period of 02 years.
- Mahila Samman Bachat Patra Scheme account can be opened in the name of mother, sister, wife, daughter.
- After opening the account, you are invested according to the prescribed rules.
- In this scheme, the applicant will get the facility of partial withdrawal, that is, to withdraw some money before maturity at the time of need.
- A fixed interest rate of 5% has been announced for the scheme, which is higher than other savings schemes.
- Beneficiary women will be able to save their money from this scheme.
- This scheme will be applicable till 31 March 2025.
- When you withdraw money after maturity, you will get huge profit. If the female beneficiary dies due to any reason, then the invested amount goes to her nominee member after the deceased.
Key Features of महिला सम्मान बचत पत्र योजना
- To make the women and girls of the country financially strong.
- Benefit of higher interest on fixed investment
- Motivating the beneficiary women to take eligible benefits of the scheme
- To make eligible beneficiaries self-dependent and empowered.
How to Apply
- First of all the applicant has to go to the nearest bank or post office.
- Now you have to get the application form of the scheme from there.
- After that you have to fill all the information in this form.
- Then you have to attach the requested documents with the form.
- After all the process is done, you have to submit this form at the place from where you had taken the form.
Mahila Samman Bachat Patra Scheme – Helpline Number
- Helpline numbers for the scheme can be obtained from the bank or post office.