Mahila Samman Bachat Patra 2023 : How to Apply, Eligibility and Benefits

April 05, 2023


 Union Finance Minister Nirmala Sitharaman presented the Union Budget for the 2023–24 fiscal year on Wednesday. She also announced a new programme on savings for women. The Mahila Samman Bachat Patra (महिला सम्मान बचत पत्र) allows Indian women to save Rs. 2.5 Lakh at a reasonable rate of 7.5% for two years. This plan will allow partial withdrawals before the two-year time limit’s expiration.

This plan enables people to take advantage of the savings schemes without having to part with the money for more than a few years, which interests investors and middle-class investors as this Bachat Patra favours modest savings plans. These plans are advantageous to the government as well because they enable it to generate funds for immediate development projects. Citizens can take advantage of these programmes at any one of the nation’s nearly 1,54,000 post offices.

Mahila Samman Bachat Patra Highlights

Mahila Samman Bachat Patra 2023, introduced by the Union Finance Minister Nirmala Sitharaman on 1st February 2023 offers the following benefits with certain conditions:

Name of the Scheme Mahila Samman Bachat Patra Yojna
The Launching Authority Government of India
Year of Introduction 2023
Rate of Interest 7.5%
Tenure of Plan 2 Years
Name of the Plan Saving Plan for Women
Beneficiary Indian Women
Category of the Article Sarkari Yojna

What is Mahila Samman Bachat Patra 2023?

Mahila Samman Bachat Patra will be ending in March 2025. Hence there will be only this one chance to acquire a Mahila Samman Savings Certificate. This programme offers women a simple, safe method to save some of the money they have earned and watch it appreciate.

The government launched this new savings programme specifically for women, called the “Mahila Samman Savings Certificate” in commemoration of Azadi ka Amrit Mahotsav. After a year, the plan permits a partial withdrawal and provides a cap on deposits of Rs 2 lakh with a fixed interest rate of 7.5%.

Other common moderate savings programmes include PPF, SCSS, SSY and NSC. At an 8% yearly interest rate, an extra Rs 30,000,000 may be deposited in the scheme named SCSS. In the Public Provident Fund, you can begin accumulating with as minimum as Rs. 500 and as maximum as Rs. 1.5 million (PPF). The minimum investment in an NSC is Rs 1,000, and the annual income rate is 7%. The SSY savings scheme aims to safeguard a girl’s future by paying an interest rate of 7.6%.

Now, nothing was stated in the budget plan if we talked about the impact of taxes on the Mahila Samman Savings Certificate scheme. Suppose it is free of tax, taxable at completion, or taxable annually which is interest-based. In that case, one can ask for more details, or the relevant tax officials can provide all the necessary information.

How to invest in mahila Samman Bachat Yojana?

Investing in Mahila Samman Bachat Yojna is extremely easy, and following the steps given below can make your job even easier:

Step 1: One needs to go to the post office nearby and collect the application form for Mahila Samman Bachat Yojna 2023.

Step 2: Fill in the necessary details, like your personal information, financial details, and details of the nominee.

Step 3: Once the application form is filled out, one needs to submit all the necessary documents, like proofs of identity and address proofs.

Step 4: One can now choose the amount that needs to be deposited and submit the cheque along with the application.

Step 5: Once you have submitted the application form and the deposit amount, you will receive a certificate as investment proof in Mahila Samman Bachat Yojna 2023.

Benefits of Mahila Samman Bachat Patra

There are several benefits of Mahila Samman Bachat Patra 2023, which was introduced on 1st February 2023, given below are some of the major benefits:

  • The Mahila Samman Bachat Patra 2023 will only be issued to girl children or women.
  • The maximum amount that one can deposit in this scheme is Rs. 2 Lakhs, and the minimum amount hasn’t been announced yet.
  • Comparing the scheme to bank fixed deposits (FDs) and other small savings plans, it provides a higher interest rate of 7.5%.
  • The scheme will provide a contract of 24 years tenure from April 2023 to March 2025.
  • Although savings plans typically qualify for Section 80C tax breaks, the scheme’s taxing framework has not yet been established.
  • Under this scheme, one can also make partial withdrawals.

Eligibility Criteria for Mahila Samman Bachat Patra

Women and girls are the only ones eligible to acquire a Mahila Samman Bachat Patra certificate, and the rest of the criteria are listed below:

  • The applicant should be a permanent Indian resident.
  • No bar on any religion, caste, or cred.

Documents Required for Mahila Samman Bachat Patra Application

The Mahila Samman Bachat Patra 2023 application requires one to submit a set of documents. Enlisted below are some of the documents:

  • Aadhaar Card
  • Identity Proof
  • Certificate of Caste
  • Proof of residence
  • Certificate of Income
  • Personal Email Id
  • Passport Size Photograph
  • Contact Number

What is the Maximum Investment that one can do in Mahila Samman Bachat Patra 2023?

Mahila Samman Bachat Patra offers the applicants a maximum investment of Rs. 2 lakhs for a tenure of 2 years and an interest rate of 7.5%.

Mahila Samman Savings Certificate

Mahila Samman Savings Certificates are a one-of-a-kind savings scheme for Indian women. It’s a great way for Mahila to earn a reasonable rate of return on their money. By opening a savings account with a minimal deposit of Rs 100 and making regular deposits, women can take part in the programme. The depositor receives interest at a rate established by the government and is free to withdraw their money whenever they want without incurring any fees.

This type of fixed deposit is available from the Indian Post Office for a period of five years. You are able to benefit from tax breaks given by Section 80C of the Income Tax Act, 1961, with the Mahila Samman Savings Certificate. Additionally, it supports nominations and allows for incomplete withdrawals. It’s a great investment option for ladies who want to put money aside for the future while benefiting from tax breaks.

Mahila Samman Bachat Patra Calculator

Mahila has a great opportunity to increase their savings and safeguard their financial security while taking advantage of several benefits and tax breaks. You can calculator to estimate their possible profit. Based on the principal amount, interest rate, and period inputted, this calculator provides an easy-to-use estimate of returns.

With the Mahila Samman Bachat Patra, women have a wonderful chance to set money aside and make investments for the future. Women may feel secure about their future financial stability due to this product’s high rate of return. Women can use calculators to their advantage as they work towards financial freedom. The Mahila Samman Bachat Patra Calculator is a fantastic option for women looking for a risk-free method to invest their money. The plan is a desirable financial vehicle for women due to its tax benefits.


Mahila Samman Bachat Patra 2023 is one of the best schemes for women or girls to earn the best returns on their investments with their hard-earned money. Also, quick access to funds is made available by the Mahila Samman Bachat Patra Yojana 2023 for unforeseen expenses like medical bills or the price of a child’s higher education.

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An author in the making who loves psychological thrillers and worships Marquez, Coelho, Donne, and Atwood. Mansi dabbled with different topics before she finally discovered her finance expertise. She quenches her thirst for the same by writing expert pieces on Urban Money. Her sarcasm is a bit too much, but her lame jokes compensate for everything. An entrepreneur and a writer who loves to binge-eat choco-truffle cake.

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