How this calculator works
The model assumes an April financial-year opening, one annual deposit for the first 15 years and no further contributions in years 16 through 21. Interest is credited yearly using monthly eligible balances; a deposit after 5 April misses one month of interest. Annual deposits are between INR 250 and INR 150,000. The constant interest rate is a planning assumption. Real accounts opened midyear, partial withdrawals, marriage closures and changing government rates need a dated schedule.
Formula
Interest for a full year = opening balance x annual rate + annual deposit x annual rate x eligible months/12. Deposit for years 1-15; continue interest through year 21. Total deposits = annual deposit x 15.
Worked example
At 0%, INR 1,000 each year for 15 years gives INR 15,000 at year 21. An early INR 1,000 first-year deposit at 10% earns INR 100; a late April deposit earns INR 91.67.
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Frequently asked questions
Do deposits continue for 21 years?
No. This projection accepts deposits for 15 years and allows the balance to grow for six more years.
When may the account be opened?
The standard account is opened before the girl reaches age 10; family and guardian eligibility rules also apply.
Is the future rate fixed?
No. Government-notified rates may change. This model holds your entered assumption constant.