SCSS Calculator
The quarterly income a Senior Citizens Savings Scheme deposit pays out.
The Senior Citizens Savings Scheme pays 8.2% quarterly. The maximum Rs 30 lakh deposit pays Rs 61,500 every quarter, about Rs 20,500 a month, and returns the principal after five years. The interest is fully taxable.
How this is calculated
Year-by-year breakdown
Free SCSS calculator with the current 8.2% rate
The Senior Citizens Savings Scheme is the highest-paying government-guaranteed income product available to anyone over 60 in India, at 8.2% a year paid out quarterly. This calculator turns a deposit into the actual cheque: the quarterly payout, what that works out to per month, and the total interest across the term.
The key difference from a fixed deposit or PPF is that SCSS pays interest out rather than compounding it. Nothing rolls up. It is designed as an income scheme, not a growth one, which is exactly right for someone who has stopped earning and needs a predictable cheque every quarter.
Worked example
The maximum deposit of Rs 30 lakh at 8.2% pays Rs 61,500 every quarter, which is about Rs 20,500 a month. Over the 5-year term that is Rs 12.3 lakh of interest, and the Rs 30 lakh principal comes back at maturity. A couple can hold Rs 30 lakh each, so a household can draw about Rs 41,000 a month from the scheme alone.
| Deposit | Quarterly payout | Monthly equivalent | Interest over 5 years |
|---|---|---|---|
| Rs 5,00,000 | Rs 10,250 | ~Rs 3,417 | Rs 2,05,000 |
| Rs 15,00,000 | Rs 30,750 | ~Rs 10,250 | Rs 6,15,000 |
| Rs 30,00,000 | Rs 61,500 | ~Rs 20,500 | Rs 12,30,000 |
Rules and the tax catch
You can open an SCSS account at 60, or at 55 if you retired on superannuation or VRS, or at 50 for defence personnel. The maximum is Rs 30 lakh per individual, in multiples of Rs 1,000, with a 5-year term extendable once by 3 years. Deposits qualify under Section 80C, but the interest is fully taxable at your slab rate and TDS applies once interest crosses Rs 50,000 in a year for senior citizens. Premature closure costs 1.5% of the deposit before two years and 1% after.
Compare the payout with a laddered FD, model a drawdown from mutual funds in the SWP calculator, and see whether inflation erodes a fixed income in the inflation calculator.
Key facts
| Interest rate | 8.2% a year, paid quarterly, not compounded |
|---|---|
| Maximum deposit | Rs 30 lakh per individual |
| Term | 5 years, extendable once by 3 years |
| Eligibility | 60+, or 55+ on superannuation/VRS, or 50+ for defence personnel |
| Tax | 80C on deposit, interest fully taxable, TDS above Rs 50,000 |
How to use the SCSS Calculator
- Enter the amount you want to deposit, up to Rs 30 lakh per individual.
- Leave the rate at 8.2% for the current quarter, or change it to test another rate.
- Set the tenure. The scheme runs 5 years and can be extended once by 3 more.
- Read the quarterly payout, the monthly equivalent and the total interest.
- Turn on inflation to see how much that fixed payout is really worth in the final year.
Sources
- India Post, small savings schemes
- National Savings Institute, Ministry of Finance
- Income Tax Department, Government of India
Last reviewed and updated: 23 August 2026. Estimates only, not financial or tax advice.
Frequently asked questions
What is the SCSS interest rate in 2026?
8.2% a year, paid out quarterly. The rate is reviewed every quarter by the Ministry of Finance and is fixed for your account at the rate prevailing when you open it.
How much interest will I get on Rs 30 lakh in SCSS?
Rs 61,500 every quarter, which is about Rs 20,500 a month, or Rs 2.46 lakh a year. Over the 5-year term that comes to Rs 12.3 lakh, and your Rs 30 lakh principal is returned at maturity.
Who can open an SCSS account?
Anyone aged 60 or above. Retirees who took superannuation or VRS can open one from 55, and defence personnel from 50, provided the account is opened within a month of receiving retirement benefits.
Is SCSS interest taxable?
Yes, fully, at your income tax slab rate. TDS is deducted once interest crosses Rs 50,000 in a financial year for senior citizens. The deposit itself qualifies for a Section 80C deduction up to Rs 1.5 lakh.
What happens if I withdraw from SCSS early?
Premature closure is allowed. Before one year no interest is paid, between one and two years 1.5% of the deposit is deducted, and after two years 1% is deducted.
Is this SCSS calculator free?
Yes, free, with no sign-up, login or ads.