Mahila Samman Savings Calculator
Maturity Value
₹1,16,022
* Fixed 2-year scheme with quarterly compounding at 7.5% p.a.
Mahila Samman Savings Certificate (MSSC) Calculator
The Mahila Samman Savings Certificate (MSSC) was a one-time government savings scheme launched in 2023 exclusively for women and girls, offering 7.5% p.a. interest on deposits up to ₹2,00,000. Use Cready's MSSC calculator to check the exact maturity value of an existing certificate based on your deposit amount. Note: the scheme is no longer open for new deposits — applications closed on March 31, 2025. If you already hold an MSSC account, this calculator helps you confirm your maturity payout.
What is a Mahila Samman Savings Certificate Calculator?
A mahila samman savings certificate calculator is a free online tool that estimates the maturity value of an MSSC deposit. Since the scheme offers a fixed 7.5% p.a. interest rate, compounded quarterly, over a fixed 2-year tenure, the calculator removes the manual math — simply enter your deposit amount, and it instantly shows:
- Your total maturity value at the end of 2 years
- The total interest earned
- A breakdown of how compounding builds up over the tenure
This is especially useful if you opened an MSSC account between April 2023 and March 2025 and want to confirm your exact maturity payout before your certificate matures.
How is the MSSC Maturity Amount Calculated?
Quarterly Compounding
MSSC interest compounds quarterly at a fixed 7.5% p.a. rate, meaning interest is calculated and added to your principal four times a year.
Fixed 2-Year Tenure
The scheme has a fixed tenure of 2 years. Your deposit grows over 8 compounding periods (4 quarters × 2 years).
Example: ₹1,00,000 Deposit
A deposit of ₹1,00,000 at 7.5% p.a., compounded quarterly, for 2 years grows to approximately ₹1,16,022 — an interest earning of about ₹16,022.
Maximum Deposit: ₹2,00,000
For the maximum permitted deposit of ₹2,00,000, the maturity value works out to approximately ₹2,32,044.
MSSC Maturity Formula
The maturity amount is calculated using the compound interest formula:
A = Maturity amount
P = Principal (deposit amount)
r = Annual interest rate (7.5%)
n = Compounding frequency (4, quarterly)
t = Time in years (2 years, fixed)
What is the Mahila Samman Savings Certificate (MSSC) Scheme?
The MSSC scheme was a one-time small savings scheme introduced by the Government of India in the Union Budget 2023-24, announced by Finance Minister Nirmala Sitharaman as part of the Azadi Ka Amrit Mahotsav celebrations. It was designed specifically to encourage savings among women and girls and to deepen their participation in formal financial instruments.
Key features of the MSSC scheme:
| Feature | Detail |
|---|---|
| Offered by | Post Offices and select authorised banks |
| Interest rate | 7.5% p.a., compounded quarterly |
| Tenure | 2 years, fixed |
| Minimum deposit | ₹1,000 |
| Maximum deposit | ₹2,00,000 per account |
| Deposit window | April 1, 2023 – March 31, 2025 (now closed) |
| Eligibility | Any Indian woman or girl child (via guardian) |
| Risk level | Zero - fully government guaranteed |
Important: The scheme is currently closed to new deposits. If you already hold an MSSC certificate from the original window, it continues to earn interest until its own 2-year maturity. No new accounts can be opened at this time, and there has been no government announcement extending or relaunching the scheme.
Key Benefits of the Mahila Samman Saving Scheme
| Feature | Details |
|---|---|
| Government-Guaranteed, Zero-Risk Returns | MSSC was fully backed by the Government of India, meaning your principal and interest were completely insulated from market risk — a key reason it appealed to first-time women investors. |
| Attractive Fixed Interest Rate | At 7.5% p.a., MSSC offered a meaningfully higher rate than most comparable fixed deposits at the time of launch, making it one of the better short-term, risk-free options available to women savers. |
| Short, Defined Tenure | With a fixed 2-year maturity, MSSC suited savers with near-term goals, rather than locking money away for a decade like PPF or KVP. |
| Designed Exclusively for Women and Girls | Eligibility was simple — any Indian woman, of any age, or a girl child through her guardian, could open an account. This made it one of the most accessible women-focused savings instruments ever launched by the government. |
| Partial Withdrawal Flexibility | Account holders could withdraw up to 40% of the eligible balance once, after completing 1 year, without closing the account — useful for those who needed partial liquidity before full maturity. |
| Simple, Low-Documentation Process | Opening an account required only basic KYC (Aadhaar, PAN for larger deposits) and could be done at any post office or participating bank branch. |
How to Use the Mahila Samman Saving Scheme Calculator
Using Cready's mssc calculator takes just a few seconds. This is most useful for existing MSSC account holders confirming their payout, or for anyone researching how the scheme worked to compare it against current alternatives.
Between ₹1,000 and ₹2,00,000
The calculator applies the fixed 7.5% p.a. rate, compounded quarterly
Instantly see your total maturity amount and interest earned over the 2-year tenure
Is MSSC Interest Taxable?
Yes. MSSC interest is taxable as 'Income from Other Sources' and must be declared in your ITR in the financial year you receive it. The deposit itself does not qualify for any deduction under Section 80C. TDS is not deducted on MSSC interest since the maximum possible interest on a ₹2 lakh deposit stays below the TDS threshold of ₹40,000 — but you're still responsible for declaring and paying tax on it yourself. For women with total taxable income below the basic exemption limit, the interest may be effectively tax-free in practice, since it would fall within their overall exemption.
Can I Withdraw MSSC Before Maturity?
MSSC allowed two forms of early access:
- Partial withdrawal up to 40% of the eligible balance, available once after completing 1 year from account opening, before maturity
- Premature closure allowed after 6 months, but with a 2% reduction in the applicable interest rate (5.5% instead of 7.5%). Closure is also permitted without penalty in the case of the account holder's death or on specific compassionate grounds, such as a life-threatening illness.
Who Was Eligible for the Mahila Samman Savings Certificate?
MSSC eligibility was straightforward and inclusive:
- Women Any Indian woman, of any age, could open an account in her own name
- Girl children A parent or legal guardian could open an account on behalf of a minor girl child
- Multiple accounts A woman could open more than one MSSC account, provided each respected the ₹2,00,000 overall deposit cap and a 3-month gap was maintained between opening new accounts
Since fresh deposits are no longer accepted, this eligibility information is now primarily relevant for understanding accounts opened during the original window.
MSSC vs Fixed Deposit vs SIP — How Did It Compare?
| Feature | MSSC | Fixed Deposit | SIP (Mutual Fund) |
|---|---|---|---|
| Interest/Return | 7.5% p.a. (fixed) | 6.5%–7.4% p.a. (varies by bank) | Market-linked, no guarantee |
| Tax Benefit (80C) | ❌ No | ✅ Only on tax-saving FDs | ✅ ELSS funds only |
| Tenure | 2 years (fixed) | Flexible (7 days–10 years) | Flexible, ongoing |
| Risk | Zero (govt-backed) | Low (DICGC insured up to ₹5L) | Market risk |
| New Investment Possible? | ❌ Closed since April 2025 | ✅ Yes | ✅ Yes |
| Best For | Was ideal for short-term, women-focused saving | Short-to-medium term flexibility | Long-term wealth building |
Interest/Return
Tax Benefit (80C)
Tenure
Risk
New Investment Possible?
Best For
What Are the Alternatives to MSSC?
Since MSSC is closed to new deposits, women looking for a similar risk-free, short-tenure option today might consider a tax-saving fixed deposit or post office time deposit instead.
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