What is the Sukanya Samriddhi Calculator?
A girl child savings scheme is a long-horizon, government-backed account opened in a daughter's name, with contributions made over a defined number of years and the balance maturing when she reaches a specified age. Partial withdrawal is typically permitted earlier for education.
This calculator projects what regular contributions could accumulate to over such a term. Rates on these schemes are reviewed periodically, so treat any single rate as an assumption across a long period.
What each input means
- Yearly deposit
- What you deposit each financial year for the first 15 years, within the scheme's minimum and maximum. The calculator assumes each deposit is made early enough to earn interest for the whole year.
- Interest rate
- The rate the government sets for the scheme, reviewed every quarter. The projection holds it steady for all 21 years.
- Daughter's age when the account opens
- Her age on the day the account is opened. It does not change the amount, but it shows how old she will be when deposits stop and when the account matures.
How this calculation works
Contributions compound annually, and the balance continues to earn even after the contribution period ends. That final stretch of growth without new contributions is a meaningful part of the maturity value.
Over a horizon this long, accumulated interest typically exceeds total contributions by a wide margin, which is the compounding effect operating across many years on a steadily growing balance.
Formula: Each year: balance = (last balance + deposit) × (1 + r), with deposits for 15 years and maturity at 21
Getting the most out of the result
- Open the account as early as possible. The maturity date is tied to the child's age, so a later start means fewer years of compounding.
- Contribute early in each year where crediting rules reward it, so the money earns for the full period.
- Maintain at least the minimum annually to keep the account active and avoid revival charges.
- Understand the withdrawal rules for education before assuming the money is accessible when needed.
- Verify the current rate and limits with the official source rather than relying on figures quoted on third-party sites.
Common mistakes to avoid
Parents frequently assume today's rate applies for the entire term, when these rates are reviewed periodically and have varied considerably over time. Opening the account late is another costly choice, since the maturity date depends on the child's age rather than the account's — a later start simply means fewer compounding years. Letting the account fall below the annual minimum triggers revival charges, and some parents expect full access at maturity without checking the conditions on partial withdrawal for education.
Frequently asked questions
When does the account mature?
Maturity is generally tied to the child reaching a specified age rather than to a fixed number of years from opening. Contributions usually stop earlier, after which the balance continues to earn until maturity.
Can I withdraw before maturity?
Partial withdrawal is typically permitted once the child reaches a specified age, usually for education and usually capped as a proportion of the balance. It is not a general-access account.
What happens if I miss the annual minimum?
The account normally becomes inactive and requires a penalty payment plus the missed minimums to revive. The balance is not lost, but reactivation costs something.
Is the interest rate fixed for the whole term?
No. It is declared periodically by the authorities and changes over the life of the account, so any projection using one rate is indicative only.
How many accounts can be opened per family?
Schemes of this type typically limit the number of accounts per family, with defined exceptions for multiple births. Check the current rule before opening a second account.
Is the maturity amount taxable?
Such schemes often carry favourable tax treatment on contributions, interest and maturity, but provisions vary and change. Confirm the current position rather than assuming.
What if we need the money for something other than education?
Access outside the permitted purposes is generally restricted until maturity. If flexibility matters, hold a separate accessible fund alongside this account rather than relying on it.