What is Sukanya samriddhi Yojana?

Ankit

What happens if a lesser or excess amount is paid towards sukanya samriddhi yojana scheme?

Sandeeprai

Ankit
The following happens if a lesser or excess amount is paid towards sukanya samriddhi yojana scheme:
Lesser amount: In case the minimum amount of Rs.500 is not paid in a financial year, the account will be considered as default. However, the account can be brought back to the active status by paying a fine of Rs.50.
Excess amount: No interest is generated for any deposit above Rs.1.5 lakh. The depositor can withdraw the excess amount any time.

Ankit

What is the withdrawal rules of the SSY account? What documents are needed at the time of the withdrawal?

Sandeeprai

Ankit
The withdrawal rules of the SSY account are mentioned below:
Once the duration of the account has been completed, the entire amount that is available in the account including the interest can be withdrawn by the girl child. However, the below-mentioned documents must be submitted:

Application form for the withdrawal of the amount.
ID proof
Address proof
Citizenship documents

Withdrawal is allowed for the purposes of higher education if the girl child has attained the age of 18 years and has completed 10th standard. However, the money must be used for the fee or any other charges that are levied at the time of admission.

Kamal

Ankit
To meet the financial requirements of the account holder for the purpose of higher education and marriage, withdrawal of up to 50 per cent of the balance at the credit of the account at the end of preceding financial year is allowed.

ManishaNagarkoti

Ankit
After the girl reaches the age of 18, the Sukanya Samriddhi account allows partial withdrawals.

Kamal

Happysingh
In subsequent years, a minimum of Rs 250 and a maximum of Rs 1.5 lakh can be deposited during the ongoing financial year.

Santoshkumar

Happysingh
I think they will close the account after some time.

RaghavAnand

Happysingh
Ye to aap par nirbhar karta hai ki aap kitna deposit karna chahti hai, aap 250 se 1.5 lakh ke bich me kitna v deposit kar sakti hai.

rewatisachdeva

what is Withdrawal Facility?

Sandeeprai

rewatisachdeva
The withdrawal can take place:

to meet the financial requirements of the account holder for the purpose of higher education and marriage, account holder can avail partial withdrawal facility after attaining 18 years of age.
If the beneficiary is married before maturity of account, account has to be closed.