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Mahila Samman Savings Certificate vs Mukhyamantri Maiya Samman Yojana: Features, Deadline and More

Written by: Nikitha DeviUpdated on: Mar 30, 2025, 10:31 AM IST
The Mahila Samman Savings Certificate offers 7.5% interest, while Jharkhand's Maiya Samman Yojana gives ₹1,000 monthly aid. MSSC is open until March 31, 2025.
Mahila Samman Savings Certificate vs Mukhyamantri Maiya Samman Yojana: Features, Deadline and More
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The Indian government has introduced several financial schemes aimed at empowering women by enhancing their savings and financial security. The Mahila Samman Savings Certificate and the Mukhyamantri Maiya Samman Yojana are two financial schemes designed to empower women financially. 

While the Mahila Samman Savings Certificate is a central government savings initiative, Mukhyamantri Maiya Samman Yojana is a state government welfare scheme. Let’s compare them to understand their differences and benefits.

Overview of the Schemes

  • The Mahila Samman Savings Certificate (MSSC) scheme was introduced by the Department of Economic Affairs, Ministry of Finance, to enhance financial security for women and girls across India.
    Through an e-gazette notification on June 27, 2023, the government authorised all Public Sector Banks and eligible Private Sector Banks to implement and operationalise this scheme, ensuring wider accessibility. Previously available only through Post Offices, the scheme can now be availed at eligible Scheduled Banks as well. Operational since April 1, 2023, the MSSC scheme is valid for a two-year period until March 31, 2025.
  • The Department of Women, Child Development & Social Security launched the Jharkhand Mukhyamantri Maiya Samman Yojana (JMMSY) to enhance the financial security and well-being of women in the state. 

Mahila Samman Savings Certificate vs Jharkhand Mukhyamantri Maiya Samman Yojana

Feature Mahila Samman Savings Certificate Mukhyamantri Maiya Samman Yojana (Jharkhand)
Launched By Government of India Jharkhand Government
Objective Encourage savings among women Provide financial assistance to women
Tenure 2 years (2023–2025) Ongoing
Interest Rate 7.5% per annum Direct financial assistance
Deposit Limit Min: ₹1,000, Max: ₹2 lakh Not applicable (direct cash benefit)
Eligibility Women and girls Women beneficiaries (as per Jharkhand govt.)
Withdrawal Partial withdrawal allowed Direct bank transfer

Eligibility for the Schemes 

Mahila Samman Savings Certificate

  • Available for women and girl children.
  • Can be opened at post offices or designated banks.
  • Requires KYC documents like Aadhaar and PAN.
  • Fixed deposit period of 2 years with partial withdrawal flexibility.

Mukhyamantri Maiya Samman Yojana (Jharkhand)

  • Aimed at providing direct financial aid to women.
  • Should be a resident of Jharkhand.
  • The financial assistance is transferred directly to the beneficiaries’ bank accounts.

Recent Developments of Mahila Samman Savings Certificate

If you are considering investing in the Mahila Samman Savings Certificate, be mindful of the approaching deadline. Eligible applicants can avail of the Mahila Samman Savings Certificate scheme until March 31, 2025.

Conclusion

Both the Mahila Samman Savings Certificate and Jharkhand Mukhyamantri Maiya Samman Yojana play vital roles in women’s financial empowerment. MSSC is ideal for women seeking stable returns on savings, whereas JMMSY is a welfare-driven initiative helping financially vulnerable women. Understanding their differences can help women make informed financial decisions based on their needs 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.

Published on: Mar 30, 2025, 10:31 AM IST

Nikitha Devi

Nikitha is a content creator with 6+ years of experience in the financial domain. Specialising in personal finance, investments, and market insights, Nikitha simplifies complex financial topics, making them accessible to readers.

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