All the money invested in Sukanya Samriddhi Yojana account can be withdraw upon account maturity which is after 21 years from date of opening of the account. If the account is not closed on completion of 21 years from date of account opening, it will continue to earn the rate of interest that is announced by the government every year till its closure.
If the girl gets married before the account is due for maturity, the account will have to be closed the. The girl will have to give an affidavit that she is above eighteen years of age if she is closing the account before maturity for this reason. This ensures that there is no support to child marriage using this scheme.
So if the account is opened for a girl 9-10 years of age today, the maturity will be at her age of 30-31 years. She can close the account if she gets married before this age or continue it for the full duration.
After the girl turns eighteen a partial withdrawal is permitted to provide for her education/marriage. An amount equal to 50% of the balance at the end of the preceding financial year will be allowed to be withdrawn.
Pre-mature closure of Sukanya Samriddhi Account (SSA)
Pre-mature closure of accounts will be allowed only in two conditions:
- Death of the account holder
- If the account holder is suffering from life threatening diseases for which the funds might be required.