Sukanya Samriddhi Yojana – How to make Partial withdrawals or do Premature closure?

Sukanya Samriddhi Yojana – Partial withdrawals and Premature closure RulesSukanya Samriddhi Yojana – How to make Partial withdrawals or do Premature closure?


Sukanya Samriddhi Yojana is one of the safest investment options to invest for a girl child. Parents or guardian can open Sukanya Yojana scheme for a girl child and invest for 14 years and it would mature in 21 years. Many of you might have a doubt on how to do partial withdrawals or close the Sukanya Samriddhi Yojana Account before maturity for various reasons. There are a few rules for partial withdrawls or to do premature closures. In this article, we would provide Sukanya Samriddhi Yojana rules on partial withdrawals and premature closures before maturity.

Also Read: Best Child Investment Plans in India

Features of Sukanya Samriddhi Yojana Scheme

If you already aware of the features, skip this section.

Sukanya Samriddhi Yojana is the scheme floated by Govt of India, which is intended for savings for the girl child.

Parents / Guardian of the girl child can open this Sukanya Samriddhi Yojana account.

They can open this account before the girl attains 10 years of age.

This account would be active for 21 years from opening the account.

Deposits has to be done till 15 years from the date of opening the account.

Only one account can be opened for a girl child. If the family has two girl children, they can open two accounts. If there are twins, they can open maximum of 3 accounts in the family.

One can do minimum investment of Rs 250 per year.

Maximum investment is Rs 1.5 lakhs in a financial year.

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Investments done in Sukanya Samriddhi Yojana are qualified to get income tax benefits u/s 80c.

Interest would be reset by Govt of India every quarter. The current rate of interest is 7.6%.

Interest would be credited to the account by the end of the financial year.

Interest earned on Sukanya scheme is tax free as per income tax act.

Account needs to be operated by Parent or Guardian till girl attains 18 years of age.

Check here, if you are thinking how to make most of out Sukanya Samriddhi Scheme

How to do partial withdrawals in Sukanya Samriddhi Yojana Scheme?

Here are the partial withdrawal rules in Sukaya Samriddhi Yojana account.

1) Premature withdrawal can be done once the girl attains 18 years of age or completes 10th standard.

2) Withdrawal can be done up to 50% of the amount lying in the Sukanya account before the end of the previous financial year.

3) Premature withdrawal can be made in lump sum (one time) or every year for the period of maximum of 5 years. However the total amount should not exceed above threshold limit of withdrawals.

4) You can do premature withdrawal by submitting an application in the respective post office. Here is the Form-3 to be filled for premature withdrawals (SB-7C of Post office).

How to do premature closure of Sukanya Samriddhi Yojana?

SSY account needs to be active for 21 years from the date of opening. However, for various reasons, if you are thinking to close this account, here are the rules.

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It can be prematurely closed after 5 years from opening the account based on the following:

a) On the death of the account holder

b) On extreme compassionate grounds like

(i) Life threatening disease of the account holder.

(ii) Death of the guardian by whom Sukanya account is opened and operated.

For premature closure of Sukanya Samriddhi Yojana account, one has to submit prescribed application form no.2 along with pass book at the concerned Post Office. One can download Form-2 SSA premature closure form (SB-7B).

Also Read: How to plan for your children education?

How to close Sukanya Account on maturity?

Here are the rules of Sakanya account to close on maturity.

1) One can close Sukanya Samruddhi Account after 21 years from the date of opening the account.

2) One can close Sukanya account if girl is getting married after 18 years of age. One should note that the closure can happen either 1 month before or 3 months after the date of marriage.

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Suresh KP

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