Retirement Planning · After Retirement
Senior Citizens' Savings Scheme (SCSS) Calculator
Work out the quarterly interest you'd receive from the Senior Citizens' Savings Scheme, the total over 5 years (or 8 with the 3-year extension), whether TDS applies, and what you keep after tax.
Also listed inFinance & Investment
Your inputs
Quick start — try a typical case
₹ 30 lakh
₹1,000 to ₹30,00,000 (in multiples of ₹1,000), across all your SCSS accounts.
Current rate: 8.2 % — Oct–Dec 2026 quarter, checked 11 Oct 2026. The rate is fixed for your deposit's term once you invest.
Marginal rate including cess. SCSS interest is fully taxable.
Your result Live
Interest Every Quarter
₹61,500
Paid on 1 April, 1 July, 1 October and 1 January — ₹20,500 a month on average
- Interest per Year
- ₹2,46,000
- Total Interest over 5 Years
- ₹12,30,000
- Deposit Returned at Maturity
- ₹30,00,000
- Interest After Tax (per year)
- ₹1,96,800 — 6.56% post-tax yield
- TDS
- Deducted (yearly interest above ₹1,00,000); submit Form 15H if your total income is below the taxable limit
- Your deposit · 71%₹30,00,000
- Total interest · 29%₹12,30,000
Payout schedule
5 rowsInterest is paid out, not compounded: unclaimed interest doesn't earn more interest. Reinvest it (e.g. in a recurring deposit) to grow it.
How this is calculated
Quarterly interest = Deposit × Rate ÷ 4 · Total = Deposit × Rate × Years
- Rate
- SCSS rate when you invest — fixed for the term
- Years
- 5, or 8 if extended once by 3 years
SCSS is a government-backed deposit for people aged 60 and over (55–60 for those who retired on superannuation or VRS and invest within a month of receiving retirement benefits, and 50+ for retired defence personnel). It pays simple interest every quarter, which makes it a popular source of regular retirement income. Deposits qualify for Section 80C under the old tax regime, but the interest is fully taxable.
Assumptions & sources
- Rate: 8.2 % — Oct–Dec 2026 quarter, checked 11 Oct 2026, fixed for the deposit's term (the rate on extension is whatever applies then).
- Deposit limit ₹30,00,000 (Per individual, all SCSS accounts combined (since 1 Apr 2023)); TDS for senior citizens above ₹1,00,000 of interest a year (From FY 2025-26 (Budget 2025)).
- Held to maturity; early closure has penalties (no interest within 1 year, 1.5 % of the deposit between 1 and 2 years, 1 % after 2 years).
- 1Interest rates for small savings schemes (quarterly notification) — Ministry of Finance, Department of Economic Affairs. Also published by India Post and the National Savings Institute.
- 2TDS on interest — threshold for senior citizens — Income Tax Department
Calculator ID FIN-IN-SCSS-001 · version 1.0.0
Common questions
What is the current SCSS interest rate?
8.2 % — Oct–Dec 2026 quarter, checked 11 Oct 2026. Once you invest, your rate stays the same for the full 5-year term.
How much can I invest?
From ₹1,000 up to ₹30,00,000 per person in multiples of ₹1,000, across all SCSS accounts. Spouses can each open their own account.
Is SCSS interest taxable?
Yes, at your slab rate. Senior citizens can claim up to ₹50,000 of interest under Section 80TTB in the old regime. TDS applies only when yearly interest exceeds the threshold, and Form 15H avoids it if your income is below the taxable limit.