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After completing five years fixed deposit in SCSS scheme, I wanted to withdraw some amount and continue with the rest of the amount for another three years. But the concerned officer told me that if you withdraw some amount then you have to make fresh FD for another five years. Please guide me. - Anonymous In short, no. According to Senior Citizen Savings Scheme Rules 2019, multiple partial withdrawals from an SCSS account is not permitted. But an individual can prematurely withdraw from an account and close it, which entails a penalty. Note that
This article was originally published on January 11, 2023.
