This is the first bank where investors can open Mahila Samman Savings account; check details

economictimes.indiatimes.com:

Bank of India is the first public sector bank to launch the Mahila Samman Savings Certificate, 2023. According to a press release from Bank of India, it is the first bank to operationalise this scheme at all its branches. Mahila Samman Savings Certificate was previously only available through post offices. The Department of Economic Affairs, Ministry of Finance, through an e-gazette notification issued on June 27, 2023 permitted all Public Sector Banks and eligible Private Sector Banks to implement and operationalise the Mahila Samman Savings Certificate, 2023. This flagship program was introduced by Finance Minister Nirmala Sitharaman during the Budget speech for FY 2023–2024 on February 1, 2023.Mahila Samman Savings Certificate, 2023

You can soon open Mahila Samman Savings Account at these PSU, private banks

A women individually can open a Mahila Samman Savings Certificate or a guardian can open an account on behalf of a juvenile girl, or girls. The minimum investment required is Rs. 1000, and deposits up to Rs. 200,000 can be made in multiples of Rs. 100. Subject to the aggregate investment ceiling individuals can open several accounts with a three-month interval between each account.

The scheme offers an impressive 7.5% annual interest return on deposits, which is compounded and credited to the account every quarter. According to current income tax regulations, all earnings under the Mahila Samman Savings Certificate will be taxed. The plan does not, however, allow for the deduction of TDS (Tax Deducted at Source).

The account will mature two years after it is started, and accounts under this system can be