Senior Citizen Savings (SCSS) Calculator
Enter the amount invested in SCSS — instantly see how much interest you get each quarter and the total over 5 years.
How to use — Senior Citizen Savings (SCSS) Calculator
- Enter the amount you want to invest in SCSS (max ₹30 lakh).
- Enter the current rate — currently ~8.2%.
- Click Calculate — see the quarterly payout and total interest over 5 years.
FAQ
How is SCSS interest paid?
Interest is credited to your savings account every quarter (on the 1st of April, July, October, January) — it's a regular income scheme, not compounded. The principal is returned after 5 years.
Who can open an SCSS account?
Those aged 60+; also retirees aged 55–60 (VRS/superannuation) under certain conditions. Retired defence personnel from age 50+. It opens at a post office or bank.
How is SCSS taxed?
The investment is deductible under 80C (old regime). Interest is taxable and TDS applies if it exceeds ₹50,000/year (avoidable by submitting Form 15H if no tax is due).
What are the options after 5 years?
The account can be extended once for 3 years (at the rate applicable then). Or you can withdraw the principal and invest it elsewhere.