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SCSS Calculator — Calculations & Slabs for FY 2026-27

Enter your SCSS deposit (up to Rs 30 lakh) to compute the quarterly interest payout at the current 8.2% p.a. rate declared for April-June 2025.

1. Investment Specifications

Frequently Asked Questions (FAQ)

What is the Senior Citizen Savings Scheme (SCSS)?

SCSS is a government-backed savings program designed for Indian residents aged 60 years or above. It offers a secure investment option, high fixed interest rates, and regular quarterly income payouts.

What is the maximum investment limit in SCSS?

The maximum deposit limit in SCSS is ₹30,00,000 per individual. The minimum investment starts at ₹1,000. Senior citizens can open multiple SCSS accounts, but the aggregate deposit across all accounts cannot exceed the ₹30 Lakh cap.

Does SCSS offer tax benefits?

Yes, investments made in SCSS qualify for tax deductions under Section 80C of the Income Tax Act up to ₹1,50,000 per financial year. However, the quarterly interest income earned is taxable under your personal income tax slab. As per the Union Budget 2025-26, if the interest income exceeds ₹1,00,000 in a financial year, TDS is deducted at 10% (unless Form 15H is submitted). This threshold was raised from the earlier ₹50,000 limit.

What is the maturity period, and can it be extended?

SCSS has a maturity tenure of 5 years. After 5 years, you can choose to extend the account for an additional block of 3 years by submitting an application within 1 year of maturity.

Where can I verify the source data for this calculator?

You can verify the values against the official notifications listed in our data sources section at the bottom of the page.

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About This Calculator

Target Audience: Salaried taxpayers, investors & retirees planning Indian tax & wealth growth

💡 What Does This Calculator Do?

This calculator estimates the quarterly interest payments, annual income, and total interest earned from the Senior Citizen Savings Scheme (SCSS). It applies the government limit of ₹30 Lakh.

engine_type: compiled | format: inr

📋 How to Use It

  1. 1
    Investment Amount (₹): Enter the amount you plan to deposit (max ₹30,00,000).
  2. 2
    Interest Rate (%): Displays the current government SCSS interest rate (defaults to 8.2%).

🧬 The Logic Explained Simply

  • The Concept: SCSS is a government-backed retirement saving program for seniors aged 60+. It offers high security and a high interest rate. Interest is paid quarterly on the first day of April, July, October, and January, rather than compounding.
  • The Formula:
  • Quarterly Interest = Investment × (Annual Rate / 100) / 4
  • Annual Interest = Quarterly Interest × 4
  • Total Interest (5 Years) = Annual Interest × 5

💡 Real-World Calculation Breakdown

For example, you deposit ₹15,00,000 in SCSS at an annual interest rate of 8.2% for 5 years.

  • Quarterly Interest Payout = ₹15,00,000 × (8.2% / 4) = ₹30,750
  • Annual Income = ₹30,750 × 4 = ₹1,23,000
  • Total Interest over 5 years = ₹1,23,000 × 5 = ₹6,15,000
  • Maturity Amount = ₹15,00,000 (returned in full after 5 years)

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