Senior Citizen Savings Scheme (SCSS) Calculator

Quarterly payout and total interest on SCSS for senior citizens

₹15,00,000
₹

Min ₹1,000 / Max ₹30 lakh per individual (across all SCSS accounts).

8.2%
%

Govt notifies quarterly (8.2% for current quarter)

5 years
yrs
Quarterly Payout
₹30,750
+₹6,15,000 total interest over tenure
Principal TotalInterest
Principal (returned at maturity)₹15,00,000
Total Interest₹6,15,000
Total Value (principal + interest)₹21,15,000
What this means for you
SCSS pays interest every quarter straight to your bank account — it does not compound. On ₹30 lakh at 8.2%, that is about ₹61,500 every quarter (₹2.46 lakh a year) of regular income, and the full principal comes back at maturity. The deposit qualifies for 80C, but the interest is fully taxable at your slab.
What to do next
Compare with a senior-citizen FDCompare with PPF
Eligibility: age 60+ (55+ on VRS/superannuation, 50+ for defence). Interest is fully taxable; TDS applies above ₹50,000/year. Premature withdrawal carries a penalty. Rate revised quarterly by GoI.
SCSS rate per Govt of India quarterly notification
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Year-by-Year Breakdown
₹0₹10L₹20L₹30LYr 1Yr 2Yr 3Yr 4Yr 5
InvestedInvestment value
YearInvestedReturnsValue
1₹15,00,000₹1,23,000₹16,23,000
2₹15,00,000₹2,46,000₹17,46,000
3₹15,00,000₹3,69,000₹18,69,000
4₹15,00,000₹4,92,000₹19,92,000
5₹15,00,000₹6,15,000₹21,15,000
End₹15,00,000₹6,15,000₹21,15,000
Formula & SourceSenior Citizen Savings Scheme (SCSS) Calculator
Annual interest = P × R/100
Quarterly payout = Annual interest ÷ 4
Total interest = Annual interest × tenure (years)

Interest is paid out each quarter (simple interest); principal is returned at maturity.
Source: Senior Citizens Savings Scheme, 2019 (MoF gazette); ₹30L limit per Budget 2023

Frequently Asked Questions

Indian residents aged 60 or above. Those aged 55–60 retired under VRS/superannuation, and defence retirees from age 50, can also open one (within a month of receiving retirement benefits).
From ₹1,000 up to a maximum of ₹30 lakh per individual (raised from ₹15 lakh in Budget 2023), across all your SCSS accounts.
Yes. The deposit qualifies for Section 80C (within the ₹1.5 lakh limit), but the interest is fully taxable at your slab. TDS is deducted if total interest exceeds ₹50,000 in a year.
Five years, extendable once by three more years. Premature closure is allowed with a penalty (1.5% of deposit before 2 years, 1% after).
All formulas are verified against the original government notification or Act (cited in the source line below the result). Numbers update in under a second on any input change, with no rounding-of-thousands like some competitors. For tax, slabs are sourced from the current Finance Act; for small savings, rates come from the quarterly government notification.
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