New savings scheme for women with 7.5% interest

New Delhi: Mahila Samman Saving Certificate' with a fixed interest rate of 7.5 per cent for two years has been announced in the budget.

The deposit can be made in the name of a woman or a girl child. The maximum deposit amount has been kept at Rs 2 lakh and the scheme will have a partial withdrawal facility as well.

"One-time new small saving under 'Mahila Samman Saving Patra' for the women and girls will be for a period of two years with a rate of interest of 7.5 per cent," FM Sitharaman announced.