You must be knowing about Sukanya Samriddhi Yojana. Investments are made in this scheme to secure the education and future of girls. Many people have questions in their mind that how to invest in it and when can they withdraw money….
Ssy withdrawal limit: Sukanya Samriddhi Yojana is a scheme of the Central Government, which has been launched especially for the girl child. The objective of this scheme is to help parents and guardians in collecting funds for the girl child for major events like marriage and education. This scheme was started by the Central Government on December 2, 2014. How much interest do you get?
The government is giving 7.6 percent interest on Sukanya Samriddhi 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 every financial year.
How to withdraw money from SSY before maturity?
If the account holder dies before maturity, the SSY account is closed immediately and the remaining balance along with interest is handed over to the parent or guardian of the account holder. Let us tell you, after the death of the Sukanya Samriddhi account holder, till the account is closed, the interest is as per the interest rate available on the savings account in the post office.
When does Sukanya Samriddhi account close?
Sukanya Samriddhi account gets closed when the girl turns 18 years of age or gets married or when the account has been open for more than 21 years.
When and how can you withdraw money from Sukanya Samriddhi Account?
According to the information given on the website of India Post, money can be withdrawn only when the girl has completed 18 years of age and has passed 10th.
50 percent of the balance amount of the previous financial year can be withdrawn.
Withdrawals can be made once a year in lump sum or in installments. However, there are many terms and conditions associated with it.
