Know about Sukanya Samriddhi Yojana Premature Withdrawal Last Updated : 21 Sep 2019

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.

Sukanya Samriddhi Yojana is one of the small savings schemes introduced by the Prime Minister Narendra Modi with a view of providing a better future for the girl child. The scheme was launched on 22nd January 2015 and it is a part of the ‘Beti Bachao Beti Padhao’ campaign launched by the government of India.

On 23 July 2018, the criteria for minimum annual deposit for the Sukanya Samriddhi Yojana account has been revised to Rs.250 from the earlier amount of Rs.1,000. Also the interest rate for the July-September quarter is 8.1%.

How to open a Sukanya Samriddhi Account

The Sukanya Samriddhi account can be opened by parents or legal guardians on behalf of their girl children. As per the scheme, only one girl child can be included under one account. The scheme allows maximum two accounts for one legal guardian. When it comes to triplet or twins, the maximum number of accounts can be extended to three. Besides, there is a relaxation of one year provided under the scheme by using which any girl child born between the time period of 2nd December, 2003 and 1st December, 2004, can get age relaxation and open a Sukanya Samriddhi account by 1st December, 2015. Thus, they will be eligible to open this account even if they reach 11. The Sukanya Samriddhi account can be opened at any commercial banks listed by the Reserve Bank of India or at any Indian post offices. Parents or legal guidance can open this account by depositing a minimum amount of Rs.250 and a maximum amount of Rs. 1, 50,000. The Sukanya Samriddhi account does not receive online payment. You need to make the deposit via cheque or demand draft.

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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