Among the various initiatives aimed at enhancing women’s financial security and independence, two well-known schemes stand out—the Mahila Samman Savings Certificate (MSSC) and the Mahila Samriddhi Yojana (MSY).
With the introduction of new and upcoming government schemes for women, it’s natural to feel a bit overwhelmed when trying to understand the different benefits each one offers, especially when it comes to women’s financial empowerment.
While both are designed to uplift women economically, they differ in terms of eligibility, benefits, and objectives.
Let’s take a closer look at these two schemes and understand how they support women in achieving financial self-sufficiency.
The Mahila Samman Savings Certificate was launched by the Ministry of Finance to provide secure investment options for women. It is a short-term savings scheme with a fixed 7.5% annual interest rate, available until March 31, 2025.
The Mahila Samriddhi Yojana is an initiative by the Ministry of Social Justice and Empowerment, designed to provide microfinance loans to women from economically backward backgrounds, especially those in Scheduled Castes (SC), Scheduled Tribes (ST), and Other Backward Classes (OBCs).
Feature | Mahila Samman Savings Certificate (MSSC) | Mahila Samriddhi Yojana (MSY) |
Launched By | Ministry of Finance | Ministry of Social Justice and Empowerment |
Target Beneficiaries | Women and girls of all income groups | Women from SC/ST/OBC categories and economically weaker sections |
Interest Rate | 7.5% per annum (compounded quarterly) | Microfinance loans with a rebate in interest |
Investment Limit | ₹1,000 to ₹2,00,000 | Loan up to ₹1,40,000 |
Loan Facility | No loan, only savings | Loan available for self-employment and entrepreneurship |
Tenure | 2 years | Repayment period of 3.5 years |
Withdrawal Options | Partial withdrawal (up to 40%) after 1 year | Loan repayment in quarterly instalments |
Eligibility | Any Indian woman | Women from SC/ST/OBC categories with family income below ₹3,00,000 per annum |
Application Mode | Through post offices and scheduled banks | Via State Channelising Agencies (SCAs) and banks |
Choosing between the Mahila Samman Savings Certificate (MSSC) and the Mahila Samriddhi Yojana (MSY) depends on your financial goals. The table below highlights key differences to help you make an informed decision.
Feature | Mahila Samman Savings Certificate (MSSC) | Mahila Samriddhi Yojana (MSY) |
Purpose | Savings and investment | Business and skill development |
Target Audience | Any Indian woman or girl | Women from economically weaker backgrounds |
Interest Rate | 7.5% (compounded quarterly) | Low-interest loan |
Deposit/Loan Limit | ₹1,000 – ₹2,00,000 | Loan up to ₹1,40,000 |
Maturity | 2 years | Loan repayment in 3.5 years |
Withdrawal | Up to 40% allowed | Repayment in installments |
Both Mahila Samman Savings Certificate and Mahila Samriddhi Yojana serve different purposes but aim to empower women financially. While MSSC is a good investment scheme with fixed returns, MSY provides loans to women entrepreneurs from underprivileged backgrounds. Choosing the right scheme depends on individual financial goals and eligibility.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Mar 29, 2025, 9:44 AM IST
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