Mahila Samman Savings Certificate Calculator 2026

Mahila Samman Savings Certificate Calculator

Calculate your guaranteed maturity amount and total interest for the MSSC scheme with exactly 7.5% quarterly compounding interest.

Quarterly Compounding Fixed 2-Year Tenure

What is the Mahila Samman Savings Certificate?

The Mahila Samman Savings Certificate (MSSC) is a one-time, short-term small savings scheme launched by the Government of India in the 2023 Union Budget. It was introduced to encourage women investors and promote financial inclusion. The scheme is exclusively available for women and girls.

Key Features

Fixed Tenure: The scheme has a very short, strict lock-in period of 2 years.
High Interest Rate: It offers an attractive fixed interest rate of 7.5% per annum.
Quarterly Compounding: Unlike many schemes that compound annually, MSSC interest is compounded quarterly (four times a year). This effectively increases the annual yield beyond 7.5%.
Maximum Limit: An individual woman can invest a maximum of ₹2,00,000 overall, even if she opens multiple accounts.

Withdrawal Rules

While the scheme is meant to be locked for 2 years, the government understands the need for liquidity:

Partial Withdrawal: You are allowed to withdraw up to 40% of the eligible balance after completing 1 year from the date of opening the account.
Premature Closure: In cases of extreme compassionate grounds (like life-threatening diseases of the account holder or death of the guardian), the account can be closed prematurely without penalty. For other reasons, premature closure is allowed after 6 months but with a penalty (interest rate will be reduced by 2% to 5.5%).

Taxability

It is important to understand the tax implications before investing:

Investments in the MSSC do not qualify for tax deductions under Section 80C.
The interest earned over the 2-year period is fully taxable as per your applicable income tax slab.

MSSC Compounding Formula

The maturity amount is calculated using the standard formula for quarterly compound interest:

Maturity Amount = Principal × (1 + Rate / 400)⁸

Where Rate is 7.5, and 8 represents the number of quarters in 2 years. E.g., for ₹2,00,000, the formula yields ₹2,32,044.

Key Characteristics & Comparison Overview

Feature / Parameter	Details / Rules	Tax Implications
Primary Returns	Guaranteed / Market-Linked Growth	Taxable at Income Tax Slab Rates
Compounding / Payout	Quarterly / Annual Compounding	TDS deductions applicable where threshold met
Lock-in & Liquidity	Specified Tenure / Market Liquidity	Premature withdrawal penalties apply

Frequently Asked Questions

What is the interest rate for the Mahila Samman Savings Certificate?

The Mahila Samman Savings Certificate offers a fixed interest rate of 7.5% per annum. Importantly, this interest is compounded quarterly, which increases the effective yield.

Who is eligible to invest in MSSC?

The scheme is exclusively for women and girls. Any woman can open an account for herself, or a guardian can open an account on behalf of a minor girl.

What are the investment limits for MSSC?

The minimum investment required is ₹1,000 (and in multiples of ₹100). The maximum limit is strictly capped at ₹2,00,000 per individual across all her MSSC accounts.

What is the tenure of the scheme?

The Mahila Samman Savings Certificate has a fixed, short-term tenure of exactly 2 years from the date of account opening.

Are there tax benefits under Section 80C for MSSC?

No, investments made in the Mahila Samman Savings Certificate do not qualify for tax deductions under Section 80C. Furthermore, the interest earned is fully taxable according to your income tax slab.

Is premature withdrawal allowed?

Yes, partial withdrawal up to 40% of the eligible balance is allowed once after completing 1 year from the date of account opening. Complete premature closure is also allowed under specific conditions (like extreme medical emergencies) but with a penalty of 2% on the interest rate.

Is TDS deducted on the interest earned?

According to CBDT circulars, TDS is generally not deducted on the interest earned under this scheme, but the interest remains fully taxable in the hands of the investor.

Can I open multiple MSSC accounts?

Yes, you can open multiple accounts, provided that a gap of 3 months is maintained between the opening of the existing account and the new account. However, the total cumulative balance across all accounts cannot exceed the ₹2 Lakh limit.