When sukanya samriddhi yojana account premature closure

We opened the Sukanya Samrudhi Yojana account, but sometimes the circumstances are such that there is a need to shut down the account, before the time of Sukanya Samrudhi Yojana account, we do not know how to make sukanya samriddhi yojana account premature closure.

sukanya samriddhi yojana premature closure

death of closure sukanya samriddhi yojana account 

In the event of the death of the Beneficiary Account holder (Girl Child), the Account shall be closed from the date of such death, on the production of a death certificate issued by the competent medical authority, and the balance at the credit of the Account and interest thereof till the date of death shall be paid to the Guardian. Interest on such Accounts shall be eligible only till the date of death of the Account holder.

non-citizen or non-resident of India

If the Account holder (Girl Child) becomes a non-citizen or non-resident of India after the opening of the Account, intimation to this effect shall be given by the Guardian or the Account holder to the Post Office or Bank concerned, within a month of change of such status. Such The account shall not earn any interest from the date of the change of status of the Account holder's citizenship or residence. Such Account shall be deemed to be closed prematurely from date of such change of residency or citizenship of the Account holder even if the intimation is given late (for whatever time) to the Post Office or the Bank concerned. For example, if the account was opened on 13.5.2015 and Account holder becomes NRI or Non-Citizen on 28.3.2018 but intimation was given on 4.4.2020, the account shall be treated as deemed closed on 28.3.2018.

the Account shall be treated as irregular

From the date of such deemed closure (as per above example from 28.3.2018), the Account shall be treated as irregular and not earn any interest. Balance at the credit of such Account on the date of such deemed closure shall be:

• (i) Returned, along with Interest due for such Deposit, to the Account holder and if the account holder is not alive, then to the Guardian

• (ii) In case any Interest was credited to the Account from such date of change of residency or citizenship of the Account holder (from 29.3.2018 to 31.3.2020 as per above example), it will be recovered and credited into the Government Accounts.

Post Office power closure in life-threatening diseases

Where the Post Office (power of sanction of such closure is delegated to Head of the Postal Division. Sr. Postmaster. Chief Postmaster, Director) is satisfied that the operation or continuation of the Account is causing undue hardship to the Account holder, it may, after complete documentation, by order and for reasons to be recorded in writing, allow premature closure of the Account but only in cases of extreme compassionate grounds such as medical support in life-threatening diseases of the Beneficiary Account holder or death of the Guardian, but in any case, not before 5 years of the opening of such Account.

If an application is made for premature closure for the reasons other than above, the premature a closure may be permitted on condition that the account shall be treated as Savings Account from date of opening and whole Deposit would be eligible only for interest rate prescribed for Post Office Savings Bank. Excess interest credited in such cases will be recovered from the balance in the account.
Operation of account.- (1) shall be operated by the Guardian till the Beneficiary Account holder attains 10 years of age, and may be operated by the Guardian till the Beneficiary Account holder attains majority or may be directly operated by the Beneficiary Account holder after she attains 10
years of age.sukanya samriddhi yojana account premature closure