BANKING AFFAIRS

Detailed explanation-1: -The Sukanya Samriddhi Yojana account matures upon completion of 21 years from the account’s opening date. It is also possible to close the account before maturity on account of the marriage of the account holder.

Detailed explanation-2: -Whereas, a Sukanya Samriddhi Account will mature once the girl child reaches the age of 21 years. Partial withdrawal can be done in an SSY account after the age of 18 years that too only for higher education purposes.

Detailed explanation-3: -After a girl reaches 18 years of age or has completed the 10th standard, guardians can withdraw money from the account up to 50% of the balance in a financial year.

Detailed explanation-4: -The scheme will mature after the completion of 21 years from the date of opening of the account. According to the scheme rules, a depositor is required to make deposits every year till the completion of 15 years from the date of opening of account.