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About the Sukanya Samriddhi Yojana Calculator
Sukanya Samriddhi Yojana is a small savings scheme for a girl child under ten, and it pays the highest rate of any government scheme. The structure is unusual and works in your favour: you deposit for fifteen years, but the account matures only at twenty-one, so the balance compounds untouched for the last six years.
Like PPF it is fully tax exempt at every stage, and the account can be opened for a maximum of two girls in a family.
The formula
The rate is notified quarterly and applies to the running balance.
Things worth knowing
Frequently asked questions
Notified quarterly by the government and currently among the highest of all small savings schemes at around 8.2%. It is reviewed every quarter and applies to the balance in the account.
Twenty-one years from opening, or on the girl's marriage after she turns eighteen. Deposits are only required for the first fifteen years; the balance keeps earning interest after that.
For a girl child, generally yes — the rate is higher and the tax treatment is identical. The constraints are that it is only for girls under ten, and the money is locked until she is eighteen.
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