India News Get -BusinessFD Interest Rates 2024; PNB Baroda Bank vs Mahila Samman Savings Certificate
Punjab National Bank (PNB) and Bank of Baroda (BoB) have recently increased interest rates on fixed deposits (FDs). In such a situation, if you are planning to get FDs in these banks or any other banks, before that you should also know about the “Mahila Samman Savings Certificate” (MSSC).
This is a special diet for women. An annual interest of 7.5% is paid. A minimum of Rs 1,000 and a maximum of Rs 2 lakh can be invested in it. In this one, you have to invest for 2 years. In such a situation, here we tell you important things related to this scheme. With this, you will be able to know where investing money will be most beneficial.
Will be able to withdraw money even before 2 years In special circumstances, this account can be closed before 2 years, but only after 6 months. However, if you do this, you will only get 5.5% interest instead of 7.5%. This interest will be paid on the principal amount. Apart from this, you can withdraw an amount of 40% after 1 year.
You can also invest in the little girl’s name. Under this program, a woman can open an account for herself. Apart from this, parents (guardians) can also invest in ‘Mahila Samman Savings Certificate’ in the name of their (minor) daughter. This means that an investment can also be made in the name of a minor girl.
Where and how can you open an account there? You can open an MSSC account at any post office and approved bank. To open an account, you will need to submit KYC documents along with its form. Click here for more information about the program