Invest in Sukanya Samrudhi Yojana Scheme, know how and when you can withdraw money.

SSY- India TV Paisa

Sukanya Samrudhi Yojana is a central government scheme, launched especially for girls. The scheme aims to help parents and guardians raise funds for major events like marriage and education of girls. This scheme was launched by the Central Government on 2nd December 2014.

How much interest do you get?

The government is offering 7.6 percent interest on Sukanya Samrudhi Yojana for October-December. In this scheme, interest is paid on the minimum balance between the end of the fifth day of every month and the last date of the month. Interest is credited to the account at the end of each financial year.

How to withdraw money from SSY before maturity?

If the account holder dies before maturity, the SSY account is immediately closed and the balance along with interest is handed over to the parent or guardian of the account holder. We inform you, that after the death of the Sukanya Samrdhi account holder, until the account is closed, interest is earned as per the rate of interest available on the Post Office Savings Account.

When does Sakanya Samrdhi account close?

Sakanya Samrdhi account is closed when the girl attains 18 years of age or gets married or when the account is over 21 years of age.

When and how can you withdraw money from Sakanya Samardhi account?

  • According to the information given on the India Post website, the money can be withdrawn only when the girl completes 18 years of age and has passed 10th.
  • 50% of the balance of the previous financial year can be withdrawn.
  • Withdrawal can be made once a year in lump sum or in installments. However, there are several terms and conditions associated with it.

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