Long Lock-in Period: The SSY scheme has 21 years maturity period from account opening, which makes it quite illiquid. This means that except for some cases like, death of the account holder or the girl child's marriage or higher education, you cannot withdraw the money before the maturity date. The funds are locked in until the girl reaches the age of 18, with only 50% available for higher education.  Maximum deposit limit: The SSY scheme has a maximum deposit limit of Rs. 1.5 lakh annually which may not be enough for some parents who want to save a larger corpus for their daughter's future. Premature withdrawal penalty: If you withdraw money from the SSY account before the maturity date, you will have to pay a penalty of 50% of the interest earned on the account balance. No loan facility: You cannot take a loan against the SSY account balance. This can be a problem if you need money for an emergency. Interest rate risk: The interest rate on the SSY scheme is changeable on a quarterly basis. This may not be enough to combat the rising education and marriage expenses.