SCSS Calculator – Senior Citizens Savings Scheme Quarterly Interest

See your exact SCSS quarterly payout before you invest

This SCSS calculator shows you precisely how much interest you will receive every three months from the Senior Citizens Savings Scheme, based on the current rate of 8.2% per annum (FY 2025-26). Enter your deposit amount and the tool instantly calculates your quarterly payout, total interest earned over 5 years, and the maturity value.

No spreadsheet needed. No guesswork. Everything is worked out right here in your browser — nothing you type is sent to any server.

How to use the SCSS calculator

1. Enter your deposit amount — any amount from ₹1,000 up to the maximum of ₹30 lakh (multiples of ₹1,000 only).
2. Check the interest rate — pre-filled at 8.2% p.a. for FY 2025-26. You can adjust it if the government revises the rate in a future quarter.
3. View your results — the calculator shows your quarterly interest payout, total interest for the full 5-year term, and the maturity amount you get back.
4. Compare scenarios — change the deposit amount to see how a higher or lower investment affects your regular income.

Worked example — ₹25 lakh deposit at 8.2%

Suppose a retired government employee invests ₹25,00,000 in SCSS at the current rate of 8.2% per annum. Here is what the numbers look like:

Every quarter — on the last working day of March, June, September, and December — ₹51,250 lands in the account. Over the 5-year term, the total interest earned is ₹10.25 lakh. The original deposit comes back in full at maturity.

How the quarterly payout is calculated

SCSS pays simple interest — not compound interest. The formula is straightforward:

Quarterly Interest = (Principal × Annual Rate) ÷ 4

Example: (₹25,00,000 × 8.2%) ÷ 4 = ₹51,250

Because the interest is paid out every quarter rather than reinvested, the principal stays the same throughout the 5-year term. At maturity you get your original deposit back along with the final quarterly payment.

Total interest over full term:

Total Interest = Principal × Annual Rate × Tenure (years)
               = ₹25,00,000 × 8.2% × 5 = ₹10,25,000

Quick reference — interest at different deposit amounts (8.2% p.a.)

SCSS rules and limits for FY 2025-26

• Who can invest: Indian residents aged 60 years or above. Retired defence personnel can invest from age 50 (subject to conditions). Retired civilian employees who retire under a VRS (voluntary retirement scheme) can invest from age 55.
• Minimum deposit: ₹1,000 (in multiples of ₹1,000).
• Maximum deposit: ₹30 lakh across all SCSS accounts combined (raised from ₹15 lakh to ₹30 lakh by the government in Budget 2023).
• Current interest rate: 8.2% per annum, applicable from Q1 FY 2024-25 onwards and continuing in FY 2025-26. The rate is set by the Ministry of Finance each quarter — check India Post or your bank for the latest notification.
• Tenure: 5 years, extendable once by 3 more years (on application within 1 year of maturity).
• Where to open: Any post office, authorised public-sector bank, or select private banks (ICICI Bank, Axis Bank, HDFC Bank, and a few others).
• Premature withdrawal: Allowed after 1 year with a penalty — 1.5% of the deposit deducted if withdrawn after 1 year but before 2 years; 1% if after 2 years.
• Joint account: Permitted with a spouse only; the first holder is the primary investor.

Is SCSS interest taxable? — Tax rules you must know

The interest earned under SCSS is fully taxable as income from other sources, added to your total income and taxed at your applicable slab rate. There is no tax exemption on the interest itself.

• TDS (tax deducted at source): If your annual SCSS interest from a single branch exceeds ₹50,000 (raised from ₹10,000 for senior citizens under Section 194A), TDS is deducted at 10%. Submit Form 15H at the start of each financial year if your total income is below the taxable limit — this prevents TDS from being cut.
• Section 80C benefit: The deposit into SCSS qualifies for deduction under Section 80C up to ₹1.5 lakh — but only under the old tax regime. Under the new default tax regime (FY 2025-26), the 80C deduction is not available.
• No TDS on extension: During the 3-year extension period, TDS applies normally based on the same ₹50,000 threshold.

For the latest TDS thresholds and Section 80C rules, refer to the Income Tax Department (incometax.gov.in).

Practical tips to get the most from your SCSS investment

• Invest soon after retirement. SCSS deposits must be opened within 3 months of receiving retirement benefits (gratuity, provident fund, etc.) if you are investing retirement proceeds above the normal age limit.
• Split accounts if needed. You can hold multiple SCSS accounts (individual or joint), but the combined deposit across all accounts must not exceed ₹30 lakh.
• Submit Form 15H every April. If your total annual income (including SCSS interest) is below the basic exemption limit, file Form 15H with your post office or bank to avoid unnecessary TDS.
• Mark the maturity date. Apply for the 3-year extension within one year of maturity; missing this window means the account closes and the extension option lapses.
• Returns are fixed, not market-linked. SCSS is a government-backed guaranteed return product — ideal for capital preservation and a predictable income. It is not meant to beat inflation over the long run.
• Compare with other senior citizen products. Senior Citizen FDs from banks and the PM Vaya Vandana Yojana (PMVVY) are alternatives; compare the current rates before deciding.

Quick reminder: The numbers from this calculator are indicative. The actual credited amount can vary slightly depending on TDS deducted at source and the exact payout date at your bank or post office branch. Always confirm the current rate with your institution before investing.

Ready to see your quarterly income? Use the SCSS calculator above — enter your deposit amount and get your numbers in seconds.