Senior Citizen Savings Scheme Calculator - SCSS

Calculate SCSS interest and maturity for senior citizens

Senior Citizens Savings Scheme: 8.2% a year, paid quarterly. Rate for October–December 2026, notified on 30 September 2026; the government reviews it every quarter.

Quarterly interest payout

₹10,250per quarter

Ten Thousand Two Hundred Fifty Rupees

₹41,000 a year, for 5 years

Investment

₹5,00,000

Total interest

₹2,05,000

Maturity amount (5 years)

₹7,05,000

Your deposit plus all 20 quarterly interest payouts

8.2% a year for 5 years, fixed when you open the account. Interest of ₹10,250 is paid on the first working day of April, July, October and January (₹41,000 a year), and is not compounded.

The deposit qualifies for Section 80C (old tax regime). The interest is taxable, and TDS applies once a year's interest crosses the limit unless you submit Form 15H.

Runs entirely in your browser. Nothing you type or upload is sent to us or stored.

Results are estimates, not financial advice. Rates, charges and rules change, so confirm with your bank, post office or a financial adviser before you decide. Terms of use

How to Use

Enter the investment amount (₹1,000 up to ₹30 lakh per person, in multiples of ₹1,000) or drag the slider.
The scheme fixes the rate (8.2% a year) and the tenure (5 years), so there's nothing else to fill in.
Your quarterly interest payout, total interest and maturity amount change as you type. Tap pdf for a printable report or share to send the numbers.

Senior Citizen Savings Scheme (SCSS)

The Senior Citizen Savings Scheme is one of the best-paying government-backed savings schemes in India, and it's open only to people aged 60 and above. Interest is paid every quarter, so it works well as a regular income for retirees who live off their savings. Use this SCSS calculator to see how much each quarter's payout will be.

Key terms (October–December 2026)

Feature	Details
Interest rate	8.2% p.a. (the joint highest small savings rate, with Sukanya Samriddhi)
Interest payout	Quarterly (April, July, October, January)
Minimum deposit	₹1,000
Maximum deposit	₹30 lakh per person across all your SCSS accounts (a couple can put in up to ₹60 lakh through separate accounts)
Tenure	5 years, then extendable in blocks of 3 years
Eligibility	60+ years; 55+ for VRS retirees; 50+ for defence personnel
Tax on interest	Taxable; TDS if interest is over ₹1 lakh a year; 80TTB deduction up to ₹50,000 in the old regime

SCSS vs senior citizen FD

At 8.2%, SCSS pays more than most bank FDs for senior citizens. The government backs it, so there's no default risk, and the money comes in every quarter. For a retiree who wants income, that makes it hard to beat. You can open an account at any post office or authorised bank.

Frequently Asked Questions

Indian citizens aged 60 or above. People aged 55–60 who took voluntary retirement (VRS) can also open one within 3 months of receiving their retirement benefits, and defence retirees can open one from age 50.

No. NRIs and PIOs can't open SCSS accounts. The scheme is only for resident Indian citizens.

Every quarter, on 1 April, 1 July, 1 October and 1 January. Interest you leave in the account isn't compounded. It just sits there without earning anything more, so withdraw it each quarter and reinvest it elsewhere if you want it to grow.

It's fully taxable as 'Income from Other Sources'. In the old tax regime, senior citizens can claim a deduction of up to ₹50,000 a year under Section 80TTB on savings, FD and SCSS interest put together. Since April 2025, TDS of 10% is deducted only if the yearly interest is more than ₹1 lakh, and you can submit Form 15H to avoid it if your income is below the taxable limit.

Yes, as many times as you like, in blocks of 3 years. Since the November 2023 amendment there's no limit on the number of extensions. Apply within 1 year of maturity, or of the end of each 3-year block. The extended period earns the interest rate in force on the date of maturity.