Mahila Samman Savings Calculator โ MSSC Returns
Scheme closed for new deposits (March 31, 2025). For existing MSSC account holders: calculate maturity at 7.5% compounded quarterly, model partial withdrawal after 1 year, and compare returns against FD and RD. Updated March 2026.
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How to Use This Calculator
MSSC Returns tab
Enter your deposit amount (up to โน2,00,000). The calculator shows the maturity amount after 2 years at 7.5% compounded quarterly, with a quarter-by-quarter breakdown of how your money grows. You also see the tax treatment: interest is taxable at your slab rate, there is no Section 80C benefit, and no TDS is deducted at source.
Partial Withdrawal tab
Enter your deposit and toggle whether you want to withdraw 40% of the deposit after 1 year. The calculator shows the balance at year 1, the withdrawal amount, and how the remaining balance grows for the second year. This helps you plan if you need partial liquidity before maturity.
MSSC vs FD vs RD tab
Enter the same amount and compare MSSC at 7.5%, SBI FD at ~6.8%, and SBI RD at ~6.5% over 2 years. MSSC earns more interest than both alternatives for eligible women investors. The RD comparison is illustrative since RD uses monthly deposits rather than a lumpsum.
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The Formula
MSSC uses quarterly compounding. The deposit earns interest every quarter, and that interest is added to the principal for the next quarter:
A = P × (1 + r/4)4×t
Where:
P = Principal deposit amount
r = Annual interest rate (7.5% = 0.075)
t = Tenure in years (2 years)
4 = Compounding frequency (quarterly)
Example with โน2,00,000:
A = 2,00,000 × (1 + 0.075/4)8
A = 2,00,000 × (1.01875)8
A = 2,00,000 × 1.16022
A = โน2,32,044 (approx.)
Partial Withdrawal (after 1 year):
Balance at Year 1 = P × (1 + r/4)4
Withdrawal = 40% of P (original deposit, not accrued balance)
Remaining = Balance at Year 1 − Withdrawal
Final = Remaining × (1 + r/4)4
Tax Treatment:
Interest is taxable at slab rate (no special exemption)
No Section 80C deduction on deposit
No TDS deducted at source
The quarterly compounding means you earn slightly more than simple interest. At 7.5% for 2 years, the effective annual rate is approximately 7.71%, yielding โน32,044 on a โน2,00,000 deposit.
Example
Priya — Invests โน2,00,000 in MSSC
Priya (32), a teacher in Lucknow, deposits the maximum โน2,00,000 in a Mahila Samman Savings Certificate at 7.5% compounded quarterly for 2 years.
Step 1: Quarter-by-quarter growth
Step 2: Summary
Step 3: Compared to FD
Priya earns โน32,044 in interest over 2 years. Compared to a regular SBI FD at 6.8%, she earns approximately โน3,324 more. The interest is taxable at her income slab rate, and she must declare it in her ITR since no TDS is deducted.