Sukanya Samridhdhi - SSA Account Closing procedure in Post Office before maturity / Death of Account holder

Sukanya Samridhdhi - SSA Account Closing procedure in Post Office before maturity / Death of Account holder

SSA Account can be closed before maturity by the competent authority only in the following circumstances:

Premature closure of account .- 

(1) In the event of death of the account holder, the account shall be closed immediately on production of death certificate issued by the competent authority, and the balance at the credit of the account shall be paid along with interest till the month preceding the month of premature closure of the account , to the guardian of the account holder. 

(2) Where the Central Government is satisfied that operation or continuation of the account is causing undue hardship to the account holder, it may, by order, for reasons to be recorded in writing, allow pre-mature closure of the account only in cases of extreme compassionate grounds such as medical support in life threatening diseases, death, etc.

Parent or Guardian is unable to continue the account in the event of death of account holder

As per the scheme, the account would mature after 21 years from the date of opening of the account and a partial amount of not more than 50% can be withdrawn after the girl attains an age of 18 years either for the purpose of higher education or marriage.

CLICK HERE for details and copy of Gazette Notification dtd.02-12-2014

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