Sukanya Samriddhi Yojana (SSY) Withdrawal: All You Need To Know!

Sukanya Samriddhi Yojana (SSY) Withdrawal
Sukanya Samriddhi Yojana (SSY) Withdrawal

Picture yourself as a parent or guardian of a girl child enrolled in the Sukanya Samriddhi Yojana (SSY). You’ve diligently contributed towards securing her future through this government-backed savings scheme. Now, as significant life events unfold, you’re contemplating withdrawals from the SSY account. This comprehensive guide aims to provide clarity and address all your concerns regarding withdrawals under the SSY scheme.

Also Read: How to open Mahila Samman Savings Certificate, POMIS, SCSS accounts online

Does Sukanya Samriddhi Yojana account allow partial withdrawal?

Yes, the SSY account does permit partial withdrawals. This provision offers flexibility, enabling withdrawals for specific purposes crucial to the girl child’s life, such as higher education or marriage.

Premature Closure:

Premature closure of an SSY account is possible under certain circumstances. It’s permitted when the daughter reaches 18 years and intends to get married, with a minimum lock-in period of 8 years.

Higher Education of Girl Child:

After the girl turns 18 or completes Class 10, withdrawals of up to 50% of the available balance are allowed for her higher education. Necessary documents and Form-3 submission are required.

Marriage of Girl Child:

Premature closure for marriage is permitted after the girl is 18 years old. The account can be closed with a declaration on non-judicial stamp paper and proof confirming her age at the time of marriage.

Death/Life-threatening Disease:

In case of extreme compassionate grounds or the account holder’s demise, premature closure is allowed. Form-2 submission and relevant documentation are necessary in such instances.

Should you withdraw from your SSY account before maturity?

It’s advisable to maintain funds in the SSY account until maturity to benefit from the high-interest rates. Withdrawals should be made only if essential, aligning with specific life events like education, marriage, or emergencies.

Can I close my Sukanya Samriddhi account prematurely?

Yes, premature closure is possible, specifically after the daughter completes 18 years and intends to marry. The account has a minimum lock-in period of 8 years and requires a minimum annual deposit to avoid discontinuation.


The account closes after 21 years from its opening. If not closed, it continues to accrue interest based on the scheme’s terms.

Interest Calculation:

Interest is calculated monthly on the lowest balance between the 5th day and the month-end. It is credited annually to the account.

Tax Benefits:

SSY offers tax benefits under Section 80C of the Income Tax Act. The contributions are eligible for tax deductions, and maturity benefits are tax-free.

Revival of Account:

In case of irregular payments, the account can be revived by paying a penalty and fulfilling the minimum annual deposit requirement.

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