Calculate the maturity amount of Mahila Samman Saving Scheme by providing the Invested Amount details. The interest rate (p.a) is fixed to 7.5% (p.a) and tenure is fixed to 2 years.
Also note that, the amount to invest need to be between ₹1000 to ₹2 Lakh.
|Invested Amount||: ₹20,0000|
|Est. Returns||: ₹32,044|
|Maturity Amount||: ₹2,32,044|
Mahila Samman Savings Certificate scheme, also known as MSSC scheme is a one-time small savings scheme for women initiated by the government of India. Announced in the Union-budget 2023-24, this scheme aims to encourage savings and investment among the female population of India. It offers an interest rate of 7.5% p.a. on the savings amount.
Mahila Samman Savings Certificate calculator is a useful tool that helps you to calculate your savings or return on investment earned via Mahila Samman Savings Certificate scheme. Just enter the investment amount, rate of interest, and tenure year to calculate the maturity amount.
You can calculate the maturity amount of the Mahila Samman Savings Scheme by using an online calculator or through manual calculation. The mathematical formula for the calculation is given below:
Maturity amount = Principal amount * (1 + Interest rate / 100) ^ Time period
For example, if you want to calculate your return on investment of an amount of ₹50,000 for the fixed interest rate and tenure of 7.5% p.a. and 2 years respectively, the maturity amount will be:
Maturity amount = 50000 * (1 + 7.5 / 100) ^ 2
Maturity amount = 57781.25
So, the return on investment will be:
ROI = (57781.25 - 50000) / 50000 * 100
ROI = ₹7781.24 approx
The MSSC calculator is a fast and convenient tool that can help you find your maturity amount in just a few seconds. Follow the below steps to use a Mahila Samman Calculator, you will need to enter the following information:
Step 1: Enter the investment amount.
Step 2: Enter the interest rate. Currently, the interest rate is 7.5% p.a.
Step 3: Enter the tenure in years. The tenure of the Mahila Samman Savings Certificate Scheme is two years.
Step 4: The maturity amount will be displayed. Note it down for future reference.
Utilising a Mahila Samman Calculator offers a range of advantages, making it a valuable tool for individuals seeking financial clarity and planning. Check out its multiple advantages below:
Accurate Maturity Calculation: It precisely calculates your investment's maturity amount, helping you plan effectively.
User-Friendly: It's easy to use, making financial planning accessible to all.
Cost-Free: It's completely free, promoting financial inclusivity.
Time-Efficient: Saves time compared to manual calculations or financial advice
Monetary Assistance: Encourages financial literacy and empowers women in their financial decisions.
Flexibility: Allows personalised optioons of investment strategies to meet specific goals.
The Mahila Samman Saving Certificate Calculator offers several key features to assist women in their financial planning and empowerment:
Maturity Amount Estimation: It allows users to enter the investment amount, interest rate, and tenure to calculate the maturity amount.
User-Friendly Interface: Provides an easy-to-use platform, ensuring accessibility for individuals with varying levels of financial knowledge.
Free of Cost: A cost-free tool that allows you to make informed financial decisions without additional expenses.
You can open a Mahila Samman Savings Certificate account from the nearest bank or post office. Follow these simple steps and start investing in this scheme today.
ou can check all the necessary details to invest in Mahila Samman Savings Certificate through post office from the linked page.
Are you looking for a personal loan? Apply online and get an instant approval
The FD calculator works by using the following formula: Maturity Amount = Principal Amount * (1 + (Interest Rate / 100)) ^ Tenure.
A MSSC Calculator is a tool that helps you calculate the maturity amount of your investment for the intended years in the Mahila Samman Savings Certificate Scheme.
To use a Mahila Samman Calculator, you will need to enter the following information- investment amount, interest rate, tenure. The calculator will then calculate the maturity amount of your investment.
The Mahila Samman Calculator is easy to use and has many benefits. Check the article above to read the benefits of advantages to using the Mahila Samman Savings Certificate Calculator.
Both are similar as they calculate the maturity amount of your investment. But in the Mahila Samman Calculator, the interest rate and tenure is fixed at 7.5% p.a. and 2 years, respectively.
The maturity amount of Mahila Samman Scheme can be calculated using the mathematical formula, Maturity amount = Principal amount * (1 + Interest rate / 100) ^ Time period.
The interest rate for the Mahila Samman Scheme is fixed at 7.5% per annum.
The maximum amount that can be deposited in the Mahila Samman Scheme is ₹2 lakh.
The tenure of the Mahila Samman Scheme is two years.
No, partial withdrawals are not allowed from the Mahila Samman Scheme.