You can withdraw everything in a Sukanya Samriddhi Yojana account when it matures, 21 years after the date it was opened. Plan to close the account at maturity: the 2019 scheme rules, unlike the original 2014 rules, don't say the balance keeps earning interest after 21 years.
If the girl is getting married before the account matures, she can close it early. She must apply between one month before and three months after the wedding, with a notarised declaration on stamp paper, backed by proof of age, that she will be at least eighteen on the date of the marriage. This stops the scheme being used to support child marriage.
So if an account is opened today for a girl aged 9, it matures when she is 30. She can close it if she marries before then, or keep it for the full term.
Once the girl turns eighteen or passes Class 10, whichever comes first, a partial withdrawal is allowed for her education. She can withdraw up to 50% of the balance at the end of the previous financial year, with proof of admission or a fee slip. She can take it in one go or once a year for up to five years.
Premature closure of a Sukanya Samriddhi Account (SSA)
Apart from closure for marriage, an account can be closed early in these cases:
- The death of the account holder
- Extreme compassionate grounds, such as a life-threatening illness of the account holder or the death of the guardian. This is allowed only after the account has run for five years.