✅ Free Tool — No Login Required
SCSS Calculator India — Senior Citizens Savings Scheme 8.2%
Calculate quarterly interest payout, annual income and total returns on SCSS. Highest guaranteed return for senior citizens in India.
SCSS Quick Answer: ₹15 lakh at 8.2% → Quarterly interest = ₹30,750 | Annual income = ₹1,23,000 | 5-year total = ₹6,15,000. Max deposit: ₹30L individual / ₹60L couple. TDS if annual interest > ₹50,000.
🧮
SCSS Calculator
Investment Details
₹
Min ₹1,000 | Max ₹30 lakh per individual
6%8.2% (current)10%
📊 SCSS Interest at Different Deposit Amounts — 8.2% p.a.
| Deposit | Quarterly Interest | Annual Interest | 5-Year Total |
|---|---|---|---|
| ₹5,00,000 | ₹10,250 | ₹41,000 | ₹2,05,000 |
| ₹10,00,000 | ₹20,500 | ₹82,000 | ₹4,10,000 |
| ₹15,00,000 | ₹30,750 | ₹1,23,000 | ₹6,15,000 |
| ₹20,00,000 | ₹41,000 | ₹1,64,000 | ₹8,20,000 |
| ₹30,00,000 (max) | ₹61,500 | ₹2,46,000 | ₹12,30,000 |
At 8.2% p.a. current rate. TDS deducted at source if annual interest exceeds ₹50,000.
📖 How to Use This SCSS Calculator
- 1Enter Deposit AmountEnter the amount to invest in SCSS (minimum ₹1,000, maximum ₹30 lakh per individual). Must be in multiples of ₹1,000. A couple can invest ₹30L each for ₹60L combined.
- 2Set Interest RateCurrent SCSS rate is 8.2%. The rate is reviewed quarterly. Adjust the slider to model future rate changes.
- 3Choose ExtensionSCSS has a 5-year tenure extendable by 3 more years. If planning to stay invested for 8 years, toggle "Yes" to see total interest over 8 years.
- 4Select Tax Slab for TDSTDS at 10% is deducted if annual interest exceeds ₹50,000. Submit Form 15H if income is below taxable limit to avoid TDS. Select your slab to see post-TDS income.
✅ Why Senior Citizens Should Consider SCSS
📈
Highest Guaranteed Rate
8.2% p.a. — highest guaranteed return among all small savings schemes in India.
🏛️
Government Backed
Sovereign guarantee — backed by Government of India. Zero default risk.
📅
Quarterly Income
Interest paid every quarter on 1st April, July, October and January — regular income.
💸
80C Tax Benefit
SCSS deposits qualify for Section 80C deduction up to ₹1.5L under old tax regime.
👴
80TTB Deduction
Senior citizens get ₹50,000 deduction on interest income (80TTB) — offsetting TDS on SCSS.
🔄
Extendable
After 5 years, extend by 3 more years for continued regular quarterly income.
❓ Frequently Asked Questions — SCSS
What is the SCSS interest rate and when is it paid?
Current SCSS interest rate is 8.2% per annum. Interest is paid quarterly on 1st April, 1st July, 1st October and 1st January. The rate is reviewed by the government every quarter. If interest is not withdrawn, it does not compound — it stays in the savings account linked to SCSS.
Who is eligible to open SCSS account?
SCSS eligibility: Indian citizens aged 60 years and above. Retired defence personnel aged 50 years and above. VRS/VSS retirees aged 55 and above — must invest within 1 month of receiving retirement benefits. NRIs and HUFs are NOT eligible for SCSS.
What is the maximum deposit in SCSS for a couple?
Individual limit: ₹30 lakh. For a couple, each spouse can independently open an SCSS account and deposit up to ₹30 lakh each — giving a combined household SCSS investment of ₹60 lakh. Both must meet the age eligibility criteria independently.
Is SCSS interest taxable?
Yes, SCSS interest is fully taxable as income. However, senior citizens get Section 80TTB deduction of up to ₹50,000 on total interest income (FD + savings + SCSS). TDS is deducted at source at 10% if annual SCSS interest exceeds ₹50,000. Submit Form 15H if total income is below the basic exemption limit to avoid TDS.
Can I withdraw from SCSS before maturity?
Premature withdrawal from SCSS is allowed after 1 year with penalty. Withdrawal after 1 year but before 2 years: 1.5% of deposit deducted. Withdrawal after 2 years: 1% of deposit deducted. Withdrawal before 1 year: only principal returned, no interest paid. Premature closure is allowed on death of account holder.
Where can I open an SCSS account?
SCSS accounts can be opened at: All post offices across India. Select nationalised banks: SBI, Bank of Baroda, Bank of India, PNB, Canara Bank, Union Bank etc. Private banks: HDFC Bank, ICICI Bank, Axis Bank and IDBI Bank. You can transfer SCSS account between post office and bank if needed.
🏦 Find Investment Advisors & Bank Agents Near You
Verified financial advisors for senior citizens on ContactDirectoryAI.