Canara Bank rolls out Mahila Samman Savings Scheme that offers a 7.5% interest rate

economictimes.indiatimes.com:

Bank of India, Canara Bank has rolled out Mahila Samman Savings Certificate, 2023 scheme across India. Nirmala Sitharaman, the Union Finance Minister, launched Mahila Samman Savings Certificate during her Budget statement for this fiscal year (2023-2024). According to the Canara Bank official tweet, “Canara Bank is proud to introduce the Mahila Samman Savings Certificate (MSSC) Scheme across India. As your trusted banking partner, we are committed to supporting women's financial growth and empowerment. Contact your nearest Canara Bank branch to learn more.” The Mahila Samman Savings Certificate, 2023 offers a secured investment option for a woman for herself or by the guardian on behalf of a minor girl. All you need to know about the Mahila Samman Savings Certificate scheme

Earn 8% interest rate on this Canara Bank special fixed deposit

Individuals are allowed to open as many accounts as they want, as long as the total investment cap is not exceeded, with a three-month gap between each account. It has a tenure of two years. The minimum investment required is Rs 1000, and deposits up to Rs 200,000 can be made in multiples of Rs 100.

The deposits made under this Scheme will fetch an interest rate of 7.5 per cent per annum. Interest will be compounded on a quarterly basis and credited to the account. The interest will remain fixed for the entire period of two years.Charges The following agency charges shall be paid for the operation of this scheme:

The account will not be closed before maturity except in the following cases, namely: