Age limit under the Sukanya Samriddhi Account Yojana
The Sukanya Samriddhi Yojana is a savings scheme started to enable savings for the female child, which has a high rate of interest (9.2% in 2015), in order to meet large expenses later in life.
To Open the Sukanya Samriddhi Account:
According to the rules, only female children under the age of 10 can have accounts opened in their names by parents or legal guardians. There is a slight relaxation in this rule for girls who were born on or after the 2nd of December, 2003.
To Withdraw from the Sukanya Samriddhi Account:
A partial withdrawal of up to 50% is allowed under the scheme for the purposes of marriage or higher education. Sukanya Samriddhi Account withdrawl age Limit to make this is 18 years.
Sukanya Samriddhi Account Maturity:
The account will attain maturity 21 years after it is created. At this time, the maturity amount will be payable to the person in whose name the account was made.
The birth certificate of the child is a document that’s required to open this account, and it will serve as proof of age as well.
Please note that this certificate will have to be issued by a competent government authority.
