Sukanya Samriddhi Yojana Withdrawal

This account allows people to partially withdraw their money as and when they need it. However, the girl child will be required to be at an age of 18 years before her guardian or parents can withdraw the money from the account.

Does Sukanya Samriddhi account allow partial withdrawal?

The account allows partial withdrawal. The Sukanya Samriddhi account holder can withdraw up to 50% of the total savings for fulfilling the purpose of marriage or higher education of his/her girl child. The Sukanya Samriddhi account allows partial withdrawal only after the girl reaches the age of 18. It is because only after the age of 18, a girl becomes eligible for legal marriage or pursuing higher education.

The duration of a Sukanya Samriddhi account is 21 years. The account matures after completing 21 years. After that, if the account is not closed, the account holder would receive interest on her savings/balance as specified in the scheme.

Can I close my Sukanya Samriddhi account prematurely?

Yes, the Sukanya Samriddhi account can be closed prematurely. This can only happen when your daughter completes 18 years of age and provided she gets married. The scheme has a minimum lock-in period of 8 years, excluding the maximum permissible age which is 10 years, within which you cannot withdraw any amount from the account. The account requires a minimum deposit of Rs. 250 every year, failing which the account will be discontinued.

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