Sukanya Samriddhi Yojana Rule: Many important steps are being taken by the state government as well as the central government for the bright future of daughters. The government has started Sukanya Samriddhi Yojana for daughters. This scheme matures in 21 years. Can withdrawals be made before the maturity of the scheme? Let us know about the withdrawal rules of the scheme.
Sukanya Samriddhi Yojana has been started by the Government of India under the Beti Bachao-Beti Padhao campaign.
The objective of this scheme is to create a better future for daughters. Often parents are very worried about their daughter’s education or marriage. In such a situation, Sukanya Samriddhi Yojana is a very good option for the bright future of daughters.
This is an investment scheme. In this, the amount invested by the parents can be used for the daughter’s education or marriage.
In this scheme, while the returns are guaranteed by the government, on the other hand it also provides a tax benefit of Rs 1.5 lakh under section 80C of the Income Tax Act 1961.
Sukanya Account can be opened for a daughter from the time she is born till she is 10 years old. This scheme matures in 21 years.
This means that when the daughter turns 21 years of age, she can close the account by withdrawing the entire amount from the Sukanya account.
Many people have a question in their mind whether there is an option of pre-mature withdrawal in this scheme?
How much can be withdrawn from Sukanya account?
Withdrawals can be made only twice in Sukanya account. Partial withdrawal can be done once and complete withdrawal can be done once. Only partial withdrawal up to 50 percent can be done in Sukanya account.
Only when the daughter turns 18 years of age, 50 percent of the amount can be withdrawn from the Sukanya account.
Actually, a daughter of 18 years of age can legally marry or pursue further studies, hence she can make partial withdrawal from Sukanya account.
Is pre-mature facility available in Sukanya account?
Pre-mature withdrawal facility is not available in Sukanya Samriddhi Yojana. This means that if the daughter has not turned 18 years old then she cannot withdraw from the account. However, even after turning 18, only 50 percent of the amount can be withdrawn.
To withdraw the full amount from Sukanya account, it is mandatory for the daughter to be 21 years of age.
