Government Scheme Calculator

SCSS calculator for senior citizens

Enter your SCSS investment amount, interest rate, and tenure to calculate quarterly interest income, total interest earned, and maturity amount.

Quarterly interest 5-year tenure Government-backed

Payout

Quarterly

Max investment

₹30 lakh

Current rate

8.2% p.a.

Enter SCSS details

Provide your investment amount, applicable rate, and tenure.

Before you calculate

SCSS is available for individuals aged 60+ (or 55+ for retired defence personnel).
Maximum investment limit is ₹30 lakh per individual (₹60 lakh joint).
Interest is paid quarterly — April, July, October, January.
Interest is fully taxable as per your income tax slab.

Why choose SCSS?

SCSS offers one of the highest guaranteed returns among government-backed fixed income schemes and provides predictable quarterly income — ideal for retirement planning.

About SCSS

Senior Citizen Savings Scheme (SCSS) is a government-backed deposit scheme designed to provide regular income to retirees. It offers higher rates than most FDs and is safe.

SCSS vs FD

SCSS currently offers 8.2% p.a., higher than most bank FDs. It also qualifies for ₹1.5 lakh deduction under Section 80C of the Income Tax Act.

Tenure and extension

Base tenure is 5 years, extendable by 3 more years after maturity. Premature closure is allowed with penalty after 1 year.

TDS on SCSS interest

TDS is deducted if interest exceeds ₹50,000/year. Submit Form 15H to avoid TDS if your total income is below taxable limit.

Joint account

SCSS accounts can be opened jointly with a spouse. The maximum limit of ₹30 lakh applies per individual, so a couple can invest up to ₹60 lakh combined.