Mahila Samman Savings Certificate Gets Big Update: Get Your Withdrawal Money Straight Into Non-post Office Bank Accounts

The Mahila Samman Savings Certificate (MSSC) scheme, a government-backed savings initiative, has received a significant update regarding its withdrawal process. According to the Ministry of Communication circular dated June 12, 2025, the option to withdraw the amount through ECS has now been enabled.

After first being introduced through post offices, the Mahila Samman Savings Certificate was eventually made available to eligible scheduled banks. Earlier, the only way to withdraw the MSSC amount was through the post office. The system did not offer withdrawals through the Electronic Clearance Service (ECS) which permits direct credit to other bank accounts, at that time. 

The Mahila Samman Savings Yojana now provides the option to use the Electronic Clearance Service (ECS) to receive the withdrawal money straight into their non-post office bank accounts.

According to the Ministry of Communication circular dated June 12, 2025, “lt is informed that the option to withdraw the amount through ECS has now been enabled.”

The withdrawal amount can now be paid through the following modes: * By Cash (within the prescribed limit) * By Credit to a Post Office Savings Account * Through a Postmaster Cheque Account * Through ECS to other bank accounts

The Mahila Samman Savings Certificate was launched by the Ministry of Finance to provide financial security to girls and women in India. The program ran through the Department of Post from April 1, 2023, and ran for two years, ending on March 31, 2025. Initially, exclusively accessible at post offices, this small savings scheme was eventually expanded to eligible banks as well. 

An MSSC account could be opened on or before March 31, 2025, for a tenure of two years. Women and guardians of a girl child could open an account at post offices and other qualified banks. 

The interest paid on deposits made under MSSC is 7.5 percent, with quarterly compounding. A minimum of Rs 1,000 and a maximum of Rs 2 lakhs could be deposited. The maturity of the investment is two years from the date of opening of the account. 

Account holders are permitted to withdraw up to 40 percent of the balance after the completion of one year from the date of opening of the account. 

The scheme also allows premature closure of the account under certain conditions. In the cases of premature closing, the full scheme interest will be paid on the principal amount. The account may also be closed after six months from the date of opening without a reason. However, the interest paid in such cases will be 2 percent less than the applicable scheme rate.