The Government of India has implemented many savings initiatives for people of all ages to provide them with enough financial help in times of need. The Senior Citizen Savings Scheme (SCSS) and the Mahila Samman Savings Certificate (MSSC) Scheme are two of the most popular and widely used savings plans.
The plans are specifically designed for older adults, women, and girls in the country. While the Mahila Samman Savings Certificate Scheme is a small savings scheme aimed at promoting financial inclusion and empowering women and girls in India, the Senior Citizen Savings Scheme is a retirement benefit plan that allows them to invest a lump sum amount to receive a regular income after reaching the age of 60.
MSSC accounts are available to women and guardians of underage girls, whereas SCSS accounts are open to people over the age of 55.
While the features, rewards, and eligibility requirements for both schemes differ, the procedure for creating accounts for the Mahila Samman Savings Scheme and SCSS differs for both offline and online modes.
How Can I Start An Online Mahila Samman Savings Scheme And SCSS Account?
There were previously no provisions at banks or post offices for opening online accounts for the Mahila Samman Savings Scheme and the Senior Citizen Savings Scheme. However, it appears that this is now a possibility.
Investors can create an SCSS or MSSC account using the Department of Post’s online banking facility, according to the department’s newest circular.
Check out these steps:
- Visit DOP Internet Banking for Post Office Savings Account Holders.
- On the homepage, select the ‘General Services’ tab.
- Choose ‘Service Requests’ from the drop-down menu.
- Then, choose ‘OK’ after clicking on the ‘New Requests’ option.
- After that, select ‘SCSS Accounts – Open an SCSS Account’ or ‘MSSC Accounts – Open an MSSC Account’.
- Now, input the deposit amount specified in the scheme regulations and choose either the debit account or the associated Post Office Savings Account.
- If needed, offer transaction remarks and tick the box to agree to all terms and conditions.
- Then, click on submit online and supply any extra information if necessary.
- Finally, enter the ‘Transaction Password’ and press the Submit button.
If all of the prerequisites are met, the SCSS or MSSC account will be opened.