Mahila Samman Savings Certificate (MSSC) Calculator 2026

Closed to new deposits since 31 March 2025. Work out the maturity payout of an account opened while the scheme was running — 7.5% compounded quarterly over two years.

Scheme closed: no new MSSC account can be opened, and no new deposit made, after 31 March 2025 (India Post SB Order 03/2025). Existing accounts run their full two-year term at 7.5%.

One-Time Deposit Amount

₹

Quick Presets:

₹1,000₹2.00 L

Scheme Tenure: 2 Years (Fixed)
Compounding: Quarterly (4x/yr)

Total Maturity Payout (2 Years): ₹2.32 L

Total Interest Earned: +₹32,044
Max withdrawal at 1 year (40%): ₹86,171
Effective Annual Yield: 7.71% p.a.; 100% Sovereign Guarantee

Quarterly Compounding Accrual Schedule

Quarterly interest accrual and compounding trajectory over the 2-year tenure.

Show as

Q1 (Year 1)
Opening Balance
₹2.00 L
Interest Accrued
+₹3,750
Closing Balance
₹2.04 L
Q2 (Year 1)
Opening Balance
₹2.04 L
Interest Accrued
+₹3,820
Closing Balance
₹2.08 L
Q3 (Year 1)
Opening Balance
₹2.08 L
Interest Accrued
+₹3,892
Closing Balance
₹2.11 L
Q4 (Year 1)
Opening Balance
₹2.11 L
Interest Accrued
+₹3,965
Closing Balance
₹2.15 L
Q5 (Year 2)
Opening Balance
₹2.15 L
Interest Accrued
+₹4,039
Closing Balance
₹2.19 L
Q6 (Year 2)
Opening Balance
₹2.19 L
Interest Accrued
+₹4,115
Closing Balance
₹2.24 L
Q7 (Year 2)
Opening Balance
₹2.24 L
Interest Accrued
+₹4,192
Closing Balance
₹2.28 L
Q8 (Year 2)
Opening Balance
₹2.28 L
Interest Accrued
+₹4,271
Closing Balance
₹2.32 L

Tenure Quarter	Opening Balance	Interest Accrued	Closing Balance
Q1 (Year 1)	₹2.00 L	+₹3,750	₹2.04 L
Q2 (Year 1)	₹2.04 L	+₹3,820	₹2.08 L
Q3 (Year 1)	₹2.08 L	+₹3,892	₹2.11 L
Q4 (Year 1)	₹2.11 L	+₹3,965	₹2.15 L
Q5 (Year 2)	₹2.15 L	+₹4,039	₹2.19 L
Q6 (Year 2)	₹2.19 L	+₹4,115	₹2.24 L
Q7 (Year 2)	₹2.24 L	+₹4,192	₹2.28 L
Q8 (Year 2)	₹2.28 L	+₹4,271	₹2.32 L

Corpus Growth & Compounding Trajectory

If you close it early

Closing after six months for any reason other than death or a compassionate ground costs 2% of interest: the whole balance earns 5.5% instead of 7.5% (scheme para 8(3)).

Months since you opened the account

623

Payout if closed now: ₹2.11 L
Interest at 5.5%: ₹11,229
Interest given up versus 7.5%: ₹4,198

Counts 4 completed quarters and assumes no partial withdrawal. The scheme rules don't say how interest for a part quarter is paid, so the actual amount may be slightly higher.

MSSC maturity formula, with your numbers

Standard Formula

A = P × (1 + i)^N, where i = r ÷ 4 is the quarterly rate and N = 4 × 2 = 8 quarters

Live Calculation (Plugging Your Values)

Deposit Amount (P):₹2,00,000

Annual interest rate (r):7.5%

Rate per quarter (i):7.5% ÷ 4 = 1.875%

Quarters (N):8

Scheme Tenure (t):2 Years (Fixed)

Substituted Equation:

₹2,00,000 × (1 + 0.01875)^8 = ₹2,32,044

Total Maturity Payout:₹2,32,044

P is the deposit (at most ₹2 lakh), r is the 7.5% annual rate and i = r ÷ 4 = 1.875% is what is added each quarter. Interest is added to the balance 8 times over the two years and paid with the deposit at maturity.

MSSC Scheme Rules

Mahila Samman Savings Certificate is a specialized sovereign fixed-income certificate introduced by the Ministry of Finance to promote financial autonomy and high-yield short-term savings for women.

Who could open an account

A woman, for herself, or a guardian on behalf of a minor girl. Each account had a single holder.
One deposit per account of at least ₹1,000, in multiples of ₹100, up to ₹2 lakh across all of a person's accounts, with at least three months between opening one account and the next.

Partial Withdrawal & Premature Rules

At maturity, two years from the deposit, the balance is paid on an application in Form-2, rounded to the nearest rupee.
Once, after one year, you can withdraw up to 40% of the balance, interest included, by applying in Form-3.
The account can be closed at any time on the account holder's death, or on extreme compassionate grounds such as a life-threatening illness or the guardian's death; interest is then paid at the full 7.5%.
For any other reason it can be closed after six months by applying in Form-4, but the whole balance then earns 5.5% (the rate less 2%) instead of 7.5%.

Rules from the Mahila Samman Savings Certificate, 2023 (Gazette notification G.S.R. 237(E), 31 March 2023). Closure: India Post SB Order 03/2025, as reproduced by TaxGuru. Income-tax Act, 2025 section numbers from ClearTax's old-to-new table.

References

How these numbers are checked →

Mahila Samman Savings Certificate FAQs

What is the current interest rate for Mahila Samman Savings Certificate?

MSSC pays a fixed 7.5% per annum, compounded quarterly and paid on maturity at the end of 2 years. The rate is fixed at the time of deposit for the whole term.

What was the maximum investment limit in MSSC?

Rs 2,00,000 per woman or girl child across all MSSC accounts, with a minimum of Rs 1,000 and deposits in multiples of Rs 100. Multiple accounts were allowed within that overall ceiling provided three months separated them. These limits now matter only to existing account holders, since the scheme stopped accepting new accounts after 31 March 2025 and no fresh deposit can be made into the scheme.

Is partial withdrawal allowed in MSSC?

Yes. Once, after one year from opening, you can withdraw up to 40% of the eligible balance, which includes the interest credited so far. On a ₹2,00,000 deposit that is up to ₹86,171 at the one-year mark. Premature closure is allowed after six months at a reduced rate of 5.5%, or at any time on the account holder's death.

Is MSSC interest taxable and does it qualify for 80C?

MSSC interest is taxable at your slab rate and must be declared under 'Income from Other Sources'. It does not qualify for the deduction under section 123 of the Income-tax Act, 2025 (earlier section 80C). TDS applies only when the total interest you get from that post office or bank in a financial year crosses ₹50,000 (₹1 lakh for senior citizens); interest is credited every quarter, so even the maximum ₹2 lakh MSSC deposit has at most ₹16,617 credited in any financial year and does not cross that limit on its own.

Can I still open a Mahila Samman Savings Certificate account?

No. MSSC was a two-year scheme announced in Budget 2023 with a subscription window that closed on 31 March 2025, so no new account can be opened and no fresh deposit can be made. Existing accounts are unaffected and simply run to their two-year maturity at the 7.5% locked at deposit. If you were planning to invest in it, look at SSY for a girl child, or a bank FD or PPF otherwise.

I already hold an MSSC account — what happens to it now?

It continues exactly as contracted. Your deposit keeps earning 7.5% a year compounded quarterly, and the whole amount is paid at the end of two years from the date you opened it, so a Rs 2,00,000 deposit matures at about Rs 2,32,000. Partial withdrawal of up to 40% after one year and premature closure after six months at 5.5% remain available. The interest is taxable at your slab rate.

How do I withdraw from or close my MSSC account?

At the post office or bank that holds it. At maturity, two years from your deposit, apply in Form-2 for the balance. For the one-time withdrawal of up to 40% after a year, use Form-3. To close early after six months, use Form-4; the balance then earns 5.5% instead of 7.5%. On the account holder's death, the account can be closed at the full rate.

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