In the Union Budget 2023, a new small saving scheme for women has been launched by Union Minister of Finance, Smt. Nirmala Sitharaman ji. In her Budget speech, she said that for commemorating Azadi ka Amrit Mahotsav, a one time new small saving scheme, Mahila Samman Savings Certifiicate will be launched and made available to the Women. The said certificate scheme will be made available up to March 2025. This will offer deposit facility upto Rs. 2 Lakhs in the name of the women or girls for a tenure of 2 years at fixed interest rate of 7.5% with partial withdrawal options.
In comparison to the existing PPF scheme, this scheme offers a lucarative interest rate and is available with the partial withdrawal option during the tenure and at the maturity of the tenure, the certificate holder shall apply for the maturity proceeds.