SSA Premature Closure due to Death

Sukanya Samriddhi Account Scheme, 2019

Premature Closure Due to Death

Rule 7(1) In the event of death of the account holder, the account shall be closed immediately on application in Form-2, on production of death certificate issued by the competent authority and the balance at the credit of the account and interest due thereon till the date of death shall be paid to the guardian.

Rule 7(2) Interest for the period between the date of death of the account holder and date of closure of the account shall be paid at the rate applicable on Post Office Savings Account for the balance held in the account.

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Therefore-

SSY Interest = Payable up to Date of death.

POSB Interest = Payable from Date of death till Date of closure.

In case SSY Interest is credited in the Ac after Date of death, the excess over POSB interest will be recovered at the time of closure.