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Follow these simple steps:
Step 1: Visit your nearest post office or participating bank.
Step 2: Get the MSSC application form or download it online if your bank provides it.
Step 3: Fill in your name, nominee details, deposit amount, and attach Aadhaar & PAN for KYC.
Step 4: Submit the form along with your deposit (cash, cheque, or demand draft).
Step 5: Collect your MSSC certificate as proof of investment.
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The Interest Rate is 7.5%
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However the average Interest Rate based on total interest is 8%
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The Tax on interest is as per your Tax Slab rates
š” You can invest in MSSC until March 31, but if you miss out, here are some great alternatives!
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Senior Citizen Savings Scheme (SCSS) ā Higher limit & tax benefits, but only for women aged 60+.
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Sukanya Samriddhi Yojana (SSY) ā Ideal for daughters under 10 years, with tax-free returns.
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Public Provident Fund (PPF) ā Long-term, tax-free interest with a 15-year lock-in.
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