GURU’S DAILY INSIGHT
80. Conditions for withdrawal from SSA account
80. Conditions for withdrawal from SSA account
Eligibility for Withdrawal:
The account holder (girl child) must be at least 18 years old or have passed the 10th standard, whichever comes first.
The account holder (girl child) must be at least 18 years old or have passed the 10th standard, whichever comes first.
Withdrawal Conditions:
• Up to 50% of the balance at the end of the previous financial year can be withdrawn for higher education.
• Withdrawals can be made in installments, but only one withdrawal per year and a maximum of 5 withdrawals in total.
• Documentary proof, such as an offer of admission or a fee-slip from the educational institution, must be provided along with the withdrawal request.
• The withdrawal amount must not exceed the actual fee and other charges required for admission, as stated in the offer or fee-slip.
Withdrawal Limit:
The total amount withdrawn cannot exceed 50% of the account balance at the end of the previous financial year, and the withdrawal can be spread across a maximum of 5 years.
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