what does the law say
Details of Sukanya Samriddhi Yojana are provided on ICICI Bank website. As per its Frequently Asked Questions (FAQ) there are certain circumstances in which early closure of an SSY account may be possible. The first of these conditions is the death of the account holder. In this case the account may be closed prematurely.
if he is seriously ill
SSY accounts can be closed even if the girl holding the account becomes seriously ill. An account can be closed even if the account holder is the parent of the account holder and has passed away. Apart from this, this account cannot be closed before 5 years.
how to close an account
If the account holder dies, his/her death certificate must be submitted to the bank or post office (wherever the account is opened). With this, the SSY account will be closed. In such cases, the amount deposited in the account will be paid to the parent or guardian along with interest. Note that interest will be calculated up to one month before the account closing date. Only one SSY account can be opened in the name of each daughter.
250 will open
There is a minimum deposit required when opening an account. The minimum amount is Rs.250. Every year you have to deposit at least Rs 250 in the account. The deposit amount is up to Rs 1.5 lakh. Another important thing is that parents or guardians should be able to open separate accounts for their two daughters. At the same time, this account can also be opened for the third daughter. But then she gave birth to twin daughters.
What is interest rate
Sukanya Samriddhi Yojana is the highest interest payment scheme among post office micro savings schemes. Its current interest rate is 7.6 percent, which may change from October 1. It is possible to increase or decrease it. It may also happen that the prices do not change. Currently, its prices have not changed in the last few sessions.