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Senior Citizens Savings Scheme (SCSS) Calculator
Calculate your SCSS quarterly payout and maturity value at 8.2% p.a.
Investment Details
₹15,00,000
₹1,000₹30,00,000
💡 Key Rules
- 👤 For individuals 60+ (55+ for retired defence personnel, 50+ for civilian VRS/superannuation)
- 📅 5-year tenure, extendable once by 3 years
- 📈 Interest rate: 8.2% p.a. (Q1 FY 2026-27), paid quarterly, not compounded
- 💵 Maximum investment: ₹30,00,000 (raised from ₹15,00,000 in 2023)
- ✅ Principal qualifies for Section 80C; interest is fully taxable
Investment Amount₹15,00,000
Quarterly Payout₹30,750
Annual Payout₹1,23,000
Total Interest (5 years)₹6,15,000
Total Payout at Maturity₹21,15,000
SCSS Formula
Simple interest, paid out every quarter — not reinvested
Quarterly Payout = P × r ÷ 4⚠️
Estimate Only
The 8.2% rate applicable when you open the account is locked in for the full 5-year tenure, regardless of later quarterly revisions. This calculator assumes the quarterly payout is withdrawn, not reinvested. Verify at your nearest bank or post office before investing.
Frequently Asked Questions — SCSS Calculator
Who is eligible to open an SCSS account?
Individuals aged 60 years or above. Retired defence personnel can open an account from age 55, and civilian employees who retired under a voluntary retirement scheme (VRS) or superannuation can open one from age 50, provided the account is opened within 1 month of receiving retirement funds.
How is SCSS interest paid out?
Interest is paid out quarterly (on the 1st of April, July, October, and January) directly to your savings account — it is not compounded or reinvested automatically.
What happens after the 5-year SCSS tenure ends?
You can withdraw the full maturity amount, or extend the account once for a further 3 years within 1 year of maturity. Extended accounts earn interest at the rate applicable on the date of maturity, not the original rate.
Is SCSS interest taxable?
Yes, SCSS interest is fully taxable as per your income slab. TDS is deducted if total interest exceeds ₹50,000 in a financial year (for those who submit Form 15H/15G if eligible, TDS can be avoided).
What is the maximum SCSS investment limit?
₹30,00,000 per individual (raised from ₹15,00,000 in the 2023 Budget). A couple can each open a separate account, effectively doubling the household limit.
Content by Satyapal Khakhal, Founder, gpaisa.in | Updated: July 2026
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