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Can Sukanya Samriddhi Yojana account be closed before maturity?
How long does Sukanya Samriddhi Yojana account stay active?
When can I withdraw from Sukanya Samriddhi Yojana?
When can a Sukanya Samriddhi Account be closed?
Jan 24, 2023 · Withdrawal. According to India Post website, below are the conditions when you can withdraw amount from SSY. (i) Withdrawal may be taken from account after girl child attains age of 18 or passed 10th standard. (ii) withdrawal may be taken up to 50% of balance available at the end of preceding F.Y.
- Can Sukanya Samriddhi Yojana (SSY) account be closed before ...
The account will stay active for 21 years following the date...
- Sukanya Samriddhi Yojana: 3 instances when you can ...
Sukanya Samriddhi Yojana account can be prematurely closed...
- Can Sukanya Samriddhi Yojana (SSY) account be closed before ...
Sep 21, 2022 · The account will stay active for 21 years following the date of opening or until the girl turns 18 and marries. After the child reaches the age of 18, a partial withdrawal of 50% of the remaining balance may be made to cover the costs of her further education.
- Sneha Kulkarni
May 3, 2023 · Sukanya Samriddhi Yojana account can be prematurely closed after 5 years of account opening on the following conditions.
- Deposit Rules of Sukanya Samriddhi Yojana
- Interest on Deposit
- Premature Closure of The Account
- Withdrawal Rules of Sukanya Samriddhi Yojana
- Closure of Ssy Account on Maturity
While opening an SSY account, one is required to make a minimum deposit of Rs 250 up to a limit of Rs 1.5 lakh in a financial year. Deposits made in surplus of one lakh fifty thousand rupees in any fiscal year, would not be eligible for interest and will be refunded to the depositor immediately. Deposits can be maintained in the account for a perio...
For the quarter ending in September 2021, Sukanya Samriddhi Account will fetch an interest rate of 7.6% per annum. The relevant interest rate is computed on an annual basis and is updated quarterly. For a calendar month, the interest is computed on the lowest available balance in the account between the closing of the fifth day and the end of the m...
After 5 years after account inception, Sukanya Samriddhi Accounts can be closed. The account can be closed in the case, the account holder's serious illness, or the death of the guardian who oversaw the account. The guardian shall be paid with the account balance and interest amount thereon until the date of death upon submission of a death certifi...
After a girl child reaches the age of 18 or has completed the tenth standard, whichever comes first, a withdrawal from the SSY account is permitted. Withdrawal of up to 50% of the amount in the account at the end of the fiscal year before the year of application for withdrawal will be permitted for the purpose of education of the account holder by ...
The account would mature once the girl child or the account holder reaches 21 years of age. Closure of the account will also be allowed before the completion of twenty-one years at the time of marriage of a girl child after attaining the age of 18years. A declaration duly signed on non-judicial stamp paper attested by the notary and age proof of th...
Jul 2, 2022 · SSA premature closure rules. Guardians should be aware that Sukanya Samriddhi Accounts (SSA) can be prematurely liquidated after five years from the date of account inception.
Can your Sukanya Samriddhi Yojana account be closed? According to the circular, “it needs to be noted that the power to regularise irregular small savings accounts is vested with the Ministry of...
May 2, 2023 · The SSY account can be closed prematurely: If the account-holder or the guardian of the account-holder passes away. In case of extreme compassionate ground. For instance, if the account-holder is on medical support. Fill out Form-2 and submit documents such as the death certificate.
