Loan against Sukanya Samriddhi Yojana Last Updated : 14 Oct 2019

Currently, no loans can be borrowed against this policy as per the existing rules and regulations. Any investment made towards the account cannot be held as security for loan purposes. This provision is currently non-existent for Sukanya Samriddhi Yojana.

Loan against Sukanya Samriddhi Yojana
Loan against Sukanya Samriddhi Yojana

We are not new to the concept of availing loans against deposits. Many deposit schemes allow the investor to pledge their deposit and take a loan against it. According to the terms and conditions of Sukanya Samriddhi Yojana, there can’t be any loan taken against investment made towards the account. Though there is a possibility that this feature might be added on to the policy later, as of now, there is no such provision attached to Sukanya Samriddhi Account.

For more information, Check out related articles Sukanya Samriddhi Yojana Calculator, Sukanya Samriddhi Yojana Age Limit, Sukanya Samriddhi Yojana Post Office & SBI Sukanya Samriddhi Account

But the investor always has the option of making partial withdrawals after the girl child attains the age of maturity for the account which is 18 years. The partial withdrawal can be made up to the amount of 50 per cent of the accumulated amount. The money partially withdrawn can in turn be used for the higher education of the girl child or other purposes. This is one of the many attractive features why people are investing in the account.

Sukanya Samriddhi Account is a perfect plan for those who want to financially safeguard their girl child’s future. Another advantageous feature of Sukanya Samriddhi account is that there is no limit on the number of investments that could be made during a given financial year.

Right now, there are only two institutions in the country where the account can be opened at. Post office already facilitates Sukanya Samriddhi Account. Then there are 28 banks which are authorized by the scheme.

Key features of Sukanya Samriddhi Yojana

  • The Sukanya Samriddhi Yojana can be opened for any girl under the age of 10 years
  • Only one account is allowed for a girl child
  • The account can be opened at any post office or authorized bank
  • The minimum amount needed for the opening of the account is Rs 250. Thereafter a multiple of Rs 100 can be deposited to the account considering they maintain a minimum deposit of Rs .250 per year
  • The maximum limit for deposits for this account is Rs 1,50,000 per year
  • The payment is supposed to be made for 14 years for this scheme. If the account was opened when the age of your girl child was 10 years then you have to pay in this scheme till your girl child age is 10 +14 years.
  • The maturity duration of the account is 21 years from the date of when the account was opened.
  • Sukanya Samriddhi Account is transferable to anywhere in India from a Post office to another or from a bank to another bank.

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