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Senior Citizens Savings Scheme (SCSS) calculator

  

Interest is paid out each quarter, not compounded.

15 lakh

%

8.2% for Oct–Dec 2026.

5 years, plus 3-year extensions.

Quarterly interest

₹30,750

₹1,23,000 a year; the deposit is returned at the end.

Interest per year
₹1,23,000
Interest over 5 years
₹6,15,000

How SCSS pays you

SCSS is an income scheme, not a growth scheme. The interest is credited on the first working day of April, July, October and January and does not compound inside the account.

If you want the money to grow instead, compare a NSC, which compounds and pays at maturity. For monthly income on a smaller sum, see the Post Office MIS calculator.

Sources

What this calculator does not account for

  • Tax: interest is taxed at your slab and TDS may apply.
  • Premature closure penalties (1.5% before 2 years, 1% after).
  • Rate changes for extensions, which use the rate on the day you extend.

How this is calculated

Formula: Simple interest, paid quarterly

quarterly interest =deposit × rate ÷ 4

What the symbols mean

  • deposit₹1,000 to ₹30 lakh, in multiples of ₹1,000.
  • rate8.2% a year for Oct–Dec 2026.

Good to know

  • Rates for 1 October – 31 December 2026, unchanged from the previous quarter. The government reviews them every quarter; a deposit keeps the rate it was opened at.
  • ₹10,000 pays ₹205 a quarter, which is the figure India Post publishes.

Read the full methodologyFound an error? Contact us

Worked examples

Each example is worked out by the same code as the calculator above.

₹15 lakh for 5 years

₹15,00,000 × 8.2% ÷ 4 is ₹30,750 a quarter, or ₹1,23,000 a year. Over 5 years that is ₹6.15 lakh of interest, and the ₹15 lakh comes back at the end.

The ₹30 lakh maximum

At the limit the payout is ₹61,500 a quarter, which is ₹2,46,000 a year before tax.

Embed this calculator

The frame shows the tool only.

<iframe src="/embed/scss" title="SCSS" width="100%" height="720" style="border:0;max-width:42rem" loading="lazy"></iframe>

Questions

Who can open SCSS?

Anyone 60 or older. Retired defence staff can open from 50, and civilians who took voluntary retirement from 55, within a month of getting retirement benefits.

How much does ₹30 lakh pay?

₹61,500 a quarter at 8.2%, or ₹2,46,000 a year.

Is SCSS interest taxable?

Yes, at your slab rate. TDS applies when the year's interest crosses the threshold for senior citizens. The deposit qualifies for the 80C-type deduction only in the old regime.

Can I extend the account?

Yes, for blocks of 3 years after the 5-year term, at the rate in force when you extend.