The finance minister announced a ‘Mahila Samman Saving Certificate’ with a fixed interest rate of 7.5 per cent for two years in her Budget speech. The deposit can be made in the name of a woman or a girl child. The maximum deposit amount has been kept at Rs 2 lakh and the scheme will have a partial withdrawal facility as well.
“One-time new small saving under ‘Mahila Samman Saving Patra’. The deposit facility for the women and girls will be for a period of two years with a rate of interest of 7.5 per cent,” Sitharamn said.
The maximum deposit limit for Senior Citizen Savings Scheme will be enhanced from Rs 15 lakh to Rs 30 lakh.
The maximum deposit limit for Monthly Income Account Scheme will be enhanced from Rs 4.5 lakh to Rs 9 lakh for a single account and from Rs 9 lakh to Rs 15 lakh for a joint account.