SCSS Calculator India 2026
Calculate Senior Citizens Savings Scheme returns with quarterly interest payouts. India's best investment option for ages 60+ with 8.2% guaranteed returns.
₹30.8K
Quarterly Income
₹1.23L
Yearly Income
+₹6.15L
Total Interest
₹21.1L
Maturity Value
SCSS Investment Details
₹
₹1 LakhMax ₹30 Lakh
%
Current SCSS rate: 8.2% (Q1 FY 2024-25)
Years
5 years (initial)8 years (with extension)
💰 Your Regular Income
Monthly (approx)₹10.3K
Quarterly₹30.8K
Yearly₹1.23L
SCSS Benefits for Senior Citizens
- ✓8.2% interest - highest for senior citizens
- ✓Quarterly payouts - regular income
- ✓80C benefit up to ₹1.5 lakh
- ✓Government-backed - 100% safe
- ✓Extension option for 3 more years
Who Can Invest in SCSS?
- 👴Indian citizens aged 60 years or above
- 🎖️Retired defense personnel aged 55 years or above
- 🏢VRS retirees aged 55-60 (within 1 month of retirement)
Maturity Breakdown
Principal
Interest
Investment Summary
Principal Invested₹15.0L
Total Interest (5 yrs)+₹6.15L
Maturity Amount₹21.1L
80C Tax Saved (one-time)₹45.0K
Cumulative Interest Over 5 Years
Quarter-wise Interest Payout Schedule
| Quarter | Year | Interest Payout | Cumulative Interest |
|---|---|---|---|
| Q1 | Year 1 | +₹30,750 | ₹30,750 |
| Q2 | Year 1 | +₹30,750 | ₹61,500 |
| Q3 | Year 1 | +₹30,750 | ₹92,250 |
| Q4 | Year 1 | +₹30,750 | ₹1,23,000 |
| Q1 | Year 2 | +₹30,750 | ₹1,53,750 |
| Q2 | Year 2 | +₹30,750 | ₹1,84,500 |
| Q3 | Year 2 | +₹30,750 | ₹2,15,250 |
| Q4 | Year 2 | +₹30,750 | ₹2,46,000 |
| Q1 | Year 3 | +₹30,750 | ₹2,76,750 |
| Q2 | Year 3 | +₹30,750 | ₹3,07,500 |
| Q3 | Year 3 | +₹30,750 | ₹3,38,250 |
| Q4 | Year 3 | +₹30,750 | ₹3,69,000 |
| Q1 | Year 4 | +₹30,750 | ₹3,99,750 |
| Q2 | Year 4 | +₹30,750 | ₹4,30,500 |
| Q3 | Year 4 | +₹30,750 | ₹4,61,250 |
| Q4 | Year 4 | +₹30,750 | ₹4,92,000 |
| Q1 | Year 5 | +₹30,750 | ₹5,22,750 |
| Q2 | Year 5 | +₹30,750 | ₹5,53,500 |
| Q3 | Year 5 | +₹30,750 | ₹5,84,250 |
| Q4 | Year 5 | +₹30,750 | ₹6,15,000 |
SCSS vs Senior Citizen FD Comparison
| Feature | SCSS | Senior Citizen FD |
|---|---|---|
| Interest Rate | 8.2% (Fixed) | 7.5-8.0% |
| Interest Payout | Quarterly (mandatory) | Monthly/Quarterly/At maturity |
| Maximum Investment | ₹30 Lakh (per person) | No limit |
| 80C Tax Benefit | Yes (up to ₹1.5L) | Only 5-year tax saver FD |
| Premature Closure | After 1 year (with penalty) | Anytime (lower rate) |
⚠️ TDS Alert
Your annual interest (₹1,23,000) exceeds ₹50,000 limit for senior citizens. TDS of 10% will be deducted quarterly. Estimated total TDS over 5 years: ₹61,500.
Tip: Submit Form 15H if your total income is below the taxable limit to avoid TDS deduction.
Frequently Asked Questions
What is SCSS (Senior Citizens Savings Scheme)?
SCSS is a government-backed savings scheme for Indian citizens aged 60 and above. It offers 8.2% annual interest (highest among fixed-income options for seniors), paid quarterly. The scheme has a 5-year tenure with option to extend for 3 more years. Maximum investment allowed is ₹30 lakhs per individual.
Who is eligible to invest in SCSS?
Eligibility: (1) Indian citizens aged 60 years or above, (2) Retired defense personnel aged 55 years or above, (3) Civilians who took VRS or superannuation between ages 55-60 (must invest within 1 month of receiving retirement benefits). Joint accounts are allowed with spouse only.
How is SCSS interest paid?
SCSS interest is paid quarterly on the 1st of April, July, October, and January. The interest is automatically credited to your linked savings account. Unlike FD where you can choose cumulative option, SCSS mandates quarterly payouts - making it ideal for regular income needs.
Is SCSS interest taxable?
Yes, SCSS interest is fully taxable as 'Income from Other Sources' at your slab rate. TDS of 10% is deducted if annual interest exceeds ₹50,000 for senior citizens. Submit Form 15H to avoid TDS if your total income is below the basic exemption limit (₹3 lakh for senior citizens).
Can I extend SCSS after 5 years?
Yes, SCSS can be extended once for 3 more years at the prevailing interest rate. The extension must be done within 1 year of maturity. If you miss this window, you can still close the account and open a fresh one (subject to the ₹30 lakh limit).
What happens if I withdraw SCSS before maturity?
Premature withdrawal is allowed after 1 year with penalty: (1) If closed within 1-2 years: 1.5% of deposit deducted, (2) If closed after 2 years: 1% of deposit deducted. The remaining principal is returned along with interest earned till the last quarter.
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Your data stays on your device. SCSS is a government-backed scheme.