Mahila Samman Saving Certificate (MSSC)
If you are thinking about investing in Mahila
Samman Savings Certificate (MSSC) then do read the below comparison with Fixed Deposits:
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MSSC: Only for women
FD: Available for everyone
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MSSC: Maximum investment upto 2 lakhs
FD: No ceiling limit
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MSSC: Once invested, you cannot open a new account until 3 months
FD: Open any new FD anytime
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MSSC: 7.5% interest rate
FD: CURRENTLY similar and higher rate FDs are available
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MSSC: No risk since backed by the government
FD: Insurance upto 5 lakhs by DICGC
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MSSC: Lock-in period of 2 years
FD: No lock in (you can break FD)
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MSSC: Premature withdrawal of only 40% amount after 1 year
FD: Withdraw anytime any amount
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MSSC: Premature closure only after 6 months
FD: No such time restriction
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MSSC: No TDS on interest, no tax benefit
FD: Same - for investment of 2 lakhs
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