Why do deposits stop at fifteen years but the account run to twenty-one?

That is how the scheme is written, and it works in your favour. Those final six years compound a large balance without requiring any further money, and they account for a substantial share of the maturity value.

How late can I open an account?

Any time before she turns ten. Opening later shortens nothing about the deposit period or the term — both run from the opening date — but she will be older at maturity, which may or may not suit the purpose.

Can I take money out for her education?

Up to half the balance may be withdrawn once she turns eighteen or finishes the tenth standard, for higher education. Doing so reduces the amount compounding through the remaining years.

How does it compare with the Public Provident Fund?

The rate has usually been higher and the tax treatment is the same, but the money is locked to one child and one purpose. The provident fund is more flexible; this pays more for accepting the restriction.

Sukanya Samriddhi Calculator

Fifteen years of deposits that keep earning until the account turns twenty-one.

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Result

The result appears here as you type.

Ask about Sukanya Samriddhi Calculator

Questions about what this tool does, which option to pick, or what it can and cannot handle.

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About the Sukanya Samriddhi Calculator

Sukanya Samriddhi Yojana is a savings account opened in the name of a girl under ten, funded for fifteen years, and left to mature twenty-one years after opening. The six-year gap between the last deposit and maturity is the most valuable part of the scheme and the part most people miss.

During those final six years nothing is paid in and the balance keeps compounding at the notified rate. On a fully funded account that stretch typically adds more to the maturity value than the last several years of deposits did, because the balance being compounded is at its largest and no further capital is required. Anyone deciding whether to open the account late should look at what that tail is worth before concluding a later start is only slightly worse.

The rate has generally been set above the Public Provident Fund's, and the scheme is untaxed at every stage: the deposit, the interest and the maturity proceeds alike. The combination is why it tends to beat any taxable deposit available for the same horizon, and the reason to compare it against tax-free alternatives rather than headline bank rates.

Deposits are capped at one and a half lakh rupees each year, counted across every account held for the same child, and a household may open accounts for two girls, with a narrow exception for twins. There is a minimum too, and letting an account lapse below it requires a penalty payment to revive.

Partial withdrawal is permitted for higher education once she turns eighteen, which is often the reason the account exists in the first place. Withdrawing then forgoes part of that valuable final compounding stretch, so it is worth planning around rather than into.

How to use it

1Enter what you can deposit each year, up to the annual ceiling.
2Set the rate from the current notification rather than trusting the default.
3Enter her age at opening — it sets the age she will be when the account matures.
4Look at the last six rows of the table, where no deposits are made and the balance still climbs.

Questions

Why do deposits stop at fifteen years but the account run to twenty-one?: That is how the scheme is written, and it works in your favour. Those final six years compound a large balance without requiring any further money, and they account for a substantial share of the maturity value.
How late can I open an account?: Any time before she turns ten. Opening later shortens nothing about the deposit period or the term — both run from the opening date — but she will be older at maturity, which may or may not suit the purpose.
Can I take money out for her education?: Up to half the balance may be withdrawn once she turns eighteen or finishes the tenth standard, for higher education. Doing so reduces the amount compounding through the remaining years.
How does it compare with the Public Provident Fund?: The rate has usually been higher and the tax treatment is the same, but the money is locked to one child and one purpose. The provident fund is more flexible; this pays more for accepting the restriction.