The Indian government is continuously operating various welfare schemes for the betterment of the people. In the year 2023, Finance Minister Nirmala Sitharaman announced a new scheme for women called Mahila Samman Bachat Patra Yojana. This saving scheme is designed to make women financially independent, and it has some unique features that make it stand out from other saving schemes. In this article, we will discuss what Mahila Samman Bachat Patra Yojana is, its benefits, eligibility, and how to apply for it.
Table of Contents
- 1 Mahila Samman Bachat Patra Yojana
- 1.1 What is Mahila Samman Bachat Patra Yojana?
- 1.2 Objective of Mahila Samman Bachat Patra Yojana
- 1.3 Key Features of Mahila Samman Bachat Patra Yojana
- 1.4 Mahila Samman Bachat Patra Yojana Calculator
- 1.5 Eligibility for Mahila Samman Bachat Patra Yojana
- 1.6 Documents Required for Mahila Samman Bachat Patra Yojana
- 1.7 How to Apply for Mahila Samman Bachat Patra Yojana
- 1.8 Mahila Samman Bachat Patra Yojana Helpline Number
- 1.9 FAQs
Mahila Samman Bachat Patra Yojana
What is Mahila Samman Bachat Patra Yojana?
Mahila Samman Bachat Patra Yojana is a saving scheme for women launched by Finance Minister Nirmala Sitharaman in the budget of 2023. Under this scheme, women can invest up to Rs. 2 lakh and earn interest at the rate of 7.5% for two years. The government has announced that women who invest in this scheme will be exempted from taxes. After two years, the invested amount will be returned to the woman along with interest. This is the first scheme of its kind launched exclusively for women in India.
Objective of Mahila Samman Bachat Patra Yojana
The primary objective of Mahila Samman Bachat Patra Yojana is to make women financially independent. This scheme is a part of the government’s efforts to empower women by providing them with financial security. By investing in this scheme, women can earn interest on their savings, which can help them achieve their financial goals.
Key Features of Mahila Samman Bachat Patra Yojana
Mahila Samman Bachat Patra Yojana has several features that make it unique and attractive to women. Some of the key features of this scheme are:
- Exclusively for Women: Mahila Samman Bachat Patra Yojana is exclusively for women. Any woman or girl can invest in this scheme by opening their account till March 31, 2025.
- Investment Limit: Women can invest up to Rs. 2 lakh for two years under this scheme.
- Interest Rate: The government has announced an interest rate of 7.5% per annum for this scheme.
- Tax Exemption: Women who invest in this scheme will be exempted from taxes.
- Maturity Period: After the end of the maturity period fixed in this scheme, the total deposited amount will be returned to the woman along with interest.
- No Change in Interest Rate: Unlike other saving schemes, the interest rate for Mahila Samman Bachat Patra Yojana will not change during the investment period.
- Financial Independence: This scheme is designed to make women financially independent, which means they will not have to depend on anyone else for their financial needs.
Mahila Samman Bachat Patra Yojana Calculator
If you want to calculate the returns on your investment in Mahila Samman Bachat Patra Yojana, you can use the Mahila Samman Bachat Patra Yojana Calculator. If you invest Rs. 2 lakh in this scheme, you will get the full amount back after two years along with 7.5% interest.
Eligibility for Mahila Samman Bachat Patra Yojana
The Mahila Samman Savings Scheme is exclusively for women. Any woman over the age of 18 years can apply for this scheme. However, there is no information available yet on who can be eligible for the scheme beyond this. We will update this article as soon as more information is released by the government.
Documents Required for Mahila Samman Bachat Patra Yojana
Women who wish to apply for the Mahila Samman Savings Scheme will need to provide the following documents:
- A photocopy of Aadhaar card
- A photocopy of PAN card
- A phone number
- An email ID
- Passport size color photograph
- Signature or thumb impression
- Other documents (if required)
How to Apply for Mahila Samman Bachat Patra Yojana
The government announced the launch of the Mahila Samman Savings Scheme on February 1, 2023. However, there is no information available on how to apply for the scheme as of yet. We will update this article as soon as more information is released by the government regarding the application process.
Mahila Samman Bachat Patra Yojana Helpline Number
The government has not provided any helpline number related to the Mahila Samman Savings Scheme as of yet. If any information is released regarding this, we will update this article accordingly.
FAQs
What is Mahila Samman Bachat Patra Yojana?
Mahila Samman Bachat Patra Yojana is a savings scheme launched by the Finance Minister of India Nirmala Sitharaman during the budget of the year 2023. This scheme is exclusively for women and aims to make them financially independent by providing interest on their savings.
What is the interest rate offered under Mahila Samman Bachat Patra Yojana?
The government has announced an interest rate of 7.5% per annum on savings of up to Rs 2 lakh for a period of 2 years.
What is the eligibility criteria for Mahila Samman Bachat Patra Yojana?
Only women who are 18 years or above can apply for this scheme.
What are the key features of Mahila Samman Bachat Patra Yojana?
Some of the key features of this scheme include a fixed interest rate, tax exemption, exemption in case of emergencies, and financial independence for women.
