Selva Magal Scheme Interest Planning
Selva Magal is the Tamil name used for Sukanya Samriddhi savings. The scheme supports saving for a girl child. Parents can deposit yearly during the contribution period. The money then continues earning interest until maturity. This calculator turns those rules into a clear estimate.
Why This Calculator Helps
Many families know the annual deposit amount, but not the future balance. A small difference in rate or deposit timing can change the maturity value. This tool shows deposits, yearly interest, withdrawals, and closing balances. It also separates total deposits from total interest. That makes the result easier to explain.
Understanding Growth
The calculation uses annual compounding. If deposits are made at the start of each year, that deposit earns interest for the full year. If deposits are made at the end, it starts earning from the next year. The actual scheme may apply official timing rules. So the result should be treated as a planning estimate.
Good Saving Practice
Use the yearly limit carefully. The scheme normally has a yearly upper deposit limit. Deposits above that limit should not be assumed. A steady deposit habit is better than a random plan. You can enter missed years to test interruptions. You can also add yearly deposit growth, while the calculator caps deposits at the yearly limit.
Interpreting Results
The maturity amount is not just the sum of payments. It includes compounded interest over many years. The interest column shows the yearly benefit of staying invested. The schedule also helps compare early deposits with later deposits. Early deposits usually work harder because they compound longer.
Planning With Care
Rates may change when the government announces new small savings rates. Always check the current notified rate before making final decisions. This tool lets you change the rate when needed. It also includes partial withdrawal modeling for education planning. Use that option only as an estimate. Real withdrawals can follow formal rules and documentation.
A Better Decision View
A clear table can improve family discussions. It shows what happens each year. It also helps set an affordable deposit target. Use the export buttons to keep records. Review the plan yearly, especially when income, education goals, or notified interest rates change.