Sukanya Samriddhi Yojana (SSY) Rules: 21-Year Maturity & 50% Partial Withdrawal

Key Takeaways

• SSY accounts can be opened for a girl child before she attains the age of 10 years (maximum 2 accounts per family).
• Deposits must be made for 15 years from account opening; the account matures 21 years from opening date.
• SSY offers the highest guaranteed interest rate among Government Small Savings schemes with EEE (100% tax-free) status.
• Partial withdrawal of up to 50% of the balance is permitted after the girl child turns 18 for higher education admission.

Deposit Duration vs Maturity Timeline

Understanding the 15-year deposit vs 21-year maturity timelines:

• 15-Year Deposit Period: You make monthly or annual deposits between ₹250 and ₹150,000 for the first 15 years.
• 6-Year Quiet Period: From Year 16 to Year 21, no fresh deposits are required, but the entire balance continues compounding at full government interest rates!
• Maturity at 21 Years: The full maturity amount is paid tax-free to the girl child upon completing 21 years.

50% Partial Withdrawal Rules for Higher Education

To fund college or university education costs after age 18:

• Eligibility: Allowed after the girl child reaches age 18 or completes 10th standard.
• Withdrawal Limit: Maximum 50% of the total balance available at the end of the preceding financial year.
• Documentation: Requires proof of admission offer or fee demand letter from a recognized educational institution.

Frequently Asked Questions