New deposits into the Mahila Samman Savings Certificate stopped after 31 March 2025, yet the certificates already issued keep earning 7.5% a year, compounded quarterly, until they mature. The scheme had been open for a window running from 1 April 2023 to 31 March 2025, and no fresh account can be opened now.
The Central Government had introduced the scheme in Budget 2023 as part of the Azadi Ka Amrit Mahotsav. As per the Press Information Bureau (PIB), each certificate matures two years after the account is opened.
For this reason, a mahila samman savings certificate calculator is now a worked example for existing accounts. Women who already hold a certificate, and their families, are using such calculations to check the amount that will be paid at maturity.
How quarterly compounding builds the maturity amount
The interest rate of 7.5% a year is not paid once at the end. It is applied as 1.875% in each quarter, and the interest earned in one quarter is added to balance on which the next quarter is calculated. Over the two year term, there will be eight such quarters.
The formula is A = P x (1 + 0.075/4)^8, where P is the amount deposited and A is the amount received at maturity.
For an individual holding a certificate of Rs 2 lakh, the maturity amount will be around Rs 2.32 lakh and the interest will be roughly Rs 32,000. This is an estimate, and the final rupee figure may differ slightly because of rounding.
The PIB release states that the maximum deposit was Rs 2 lakh per account holder, across all MSSC accounts.
Deposit limits and what a calculator needs
Under the scheme rules, the minimum deposit was Rs 1,000 per account and deposits were allowed in multiples of Rs 100.
A calculator for an existing certificate needs three inputs:
- The amount deposited in the account
- The interest rate of 7.5% a year
- The term of two years
The official figures for a particular certificate, therefore, sit with the post office or bank that issued it.
