SCSS Calculator

Calculate your Senior Citizens' Savings Scheme quarterly interest, total interest, and maturity value at the current 8.2% rate. Free, browser-side.

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Enter a deposit amount to see your quarterly interest, total interest, and maturity value. For the in-hand impact of interest income on your tax, use the Income Tax Calculator.

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TL;DR

The Senior Citizens’ Savings Scheme (SCSS) pays 8.2% p.a. (Q2 FY2026-27 (Jul-Sep 2026)), as simple interest paid out quarterly - it is not re-invested, so the principal comes back unchanged at maturity. A Rs 30 lakh deposit earns Rs 61,500 a quarter (Rs 2,46,000 a year). Deposit Rs 1,000 to Rs 30 lakh (in multiples of Rs 1,000), 5-year tenure extendable in 3-year blocks. Deposits qualify for Section 80C (old regime); interest is fully taxable, with TDS above the threshold (Rs 1,00,000 for those 60+ since 1 Apr 2025) under Section 393, the successor to legacy Section 194A. Runs in your browser.

Quick facts

Current rate8.2% p.a. (Q2 FY2026-27 (Jul-Sep 2026)); set quarterly by the govt
InterestSimple, paid out quarterly (not compounded)
Deposit limitsRs 1,000 min to Rs 30,00,000 max, in multiples of Rs 1,000
Tenure5 years, extendable in 3-year blocks
EligibilityAge 60+, or 55-60 on VRS/superannuation, or retired defence 50+
Tax80C on deposit (old regime); interest fully taxable, TDS under Section 393 (successor to 194A)

How SCSS interest is calculated

SCSS interest is simple, not compounded: each quarter you receive deposit x rate / 4, and the principal is returned in full at maturity. At 8.2%, every Rs 1,00,000 deposited pays Rs 2,050 a quarter (Rs 8,200 a year); the Rs 30 lakh maximum pays Rs 61,500 a quarter (Rs 2,46,000 a year). The rate is fixed at the level prevailing in the quarter you open the account and does not change for the 5-year term even if the government revises SCSS later; on extension, the account takes the rate prevailing at the time of extension.

Premature closure and the penalty

You can close an SCSS account early, with a penalty on the deposit that depends on how long it ran: closed before 1 year, no interest is payable and any interest already paid is recovered; closed after 1 year but before 2 years, 1.5% of the deposit is deducted; closed on or after 2 years, 1.0% is deducted. An extended account can be closed after one year from the extension date without penalty.

Tax on SCSS and related tools

Your SCSS deposit qualifies for a Section 80C deduction (within the Rs 1.5 lakh ceiling, old regime only). The interest is fully taxable as income from other sources at your slab, and TDS applies once annual interest crosses the threshold (Rs 1,00,000 for depositors aged 60+ since 1 April 2025; Rs 50,000 otherwise) under Section 393 of the Income-tax Act, 2025 (the successor to the legacy Section 194A, for sums paid from 1 April 2026) - submit Form 15H if your income is below the taxable limit. Seniors can separately claim Section 80TTB up to Rs 50,000 on interest income (old regime). To see the slab impact, use the Income Tax Calculator; to compare with a bank deposit, see the FD Calculator and PPF Calculator.

Sources

Rate (8.2%, Q2 FY2026-27 (Jul-Sep 2026)) from the Department of Economic Affairs (Ministry of Finance) quarterly small-savings Office Memorandum dated 30 June 2026, corroborated by the India Post SB Order. Rules (deposit limits, tenure, premature closure, eligibility) from the Senior Citizens’ Savings Scheme, 2019 and the National Savings Institute (nsiindia.gov.in); TDS threshold from Section 393 of the Income-tax Act, 2025 (successor to Section 194A). Rates are revised quarterly; this tool shows the current quarter and lets you edit the rate. A planning aid, not financial advice.

Frequently Asked Questions

What is the current SCSS interest rate?+
The Senior Citizens' Savings Scheme (SCSS) pays 8.2% per annum for Q2 FY2026-27 (1 July to 30 September 2026), unchanged from the previous quarter. The rate is set every quarter by the Department of Economic Affairs (Ministry of Finance) and published in the quarterly small-savings Office Memorandum; it has held at 8.2% for a long run. Importantly, the rate you get is fixed at the level prevailing in the quarter you open the account and stays fixed for the full 5-year term even if the government revises SCSS later.
How is SCSS interest calculated?+
SCSS pays simple interest quarterly - it is not compounded or reinvested. The quarterly payout is deposit x rate / 4, credited on the first working day of April, July, October and January. At 8.2%, every Rs 1,00,000 deposited pays Rs 2,050 a quarter (Rs 8,200 a year), and the Rs 30 lakh maximum pays Rs 61,500 a quarter (Rs 2,46,000 a year). Because the interest is paid out, your principal is returned unchanged at maturity. The very first payout is pro-rated from the deposit date to the next quarter-end.
What is the maximum deposit in SCSS?+
Rs 30,00,000 (thirty lakh) per depositor, aggregated across all SCSS accounts you hold. This limit was raised from Rs 15 lakh to Rs 30 lakh in Union Budget 2023. The minimum is Rs 1,000, and deposits must be in multiples of Rs 1,000. A special condition applies to those opening under the 55-60 VRS route: the deposit cannot exceed the retirement benefits received (within the overall Rs 30 lakh scheme limit).
Who is eligible to open an SCSS account?+
Three groups: (1) any individual aged 60 or above on the date of opening; (2) a person aged 55 to below 60 who has retired on superannuation or under VRS/Special VRS, provided the account is opened within 3 months of receiving retirement benefits; and (3) retired defence personnel (excluding civilian defence employees) from age 50, subject to conditions. The account can be held individually or jointly with the spouse only, with the whole deposit attributed to the first holder.
What is the penalty for closing SCSS early?+
The premature-closure penalty depends on how long the account ran. Closed before 1 year: no interest is payable and any interest already paid is recovered from the principal. Closed after 1 year but before 2 years: 1.5% of the deposit is deducted. Closed on or after 2 years: 1.0% of the deposit is deducted. An account that has been extended can be closed after one year from the date of extension without any penalty.
How is SCSS taxed?+
The deposit qualifies for a Section 80C deduction within the Rs 1.5 lakh ceiling, but only under the old tax regime (the default new regime does not allow 80C). The interest is fully taxable as income from other sources at your slab rate. TDS applies under Section 393 of the Income-tax Act, 2025 (the successor to Section 194A, for sums paid from 1 April 2026) once annual interest crosses the threshold - Rs 1,00,000 for depositors aged 60 and above (raised from Rs 50,000 with effect from 1 April 2025), or Rs 50,000 for the under-60 VRS and defence cases - at 10% with PAN (20% without). If your total income is below the taxable limit, submit Form 15H to avoid the deduction. Senior citizens can separately claim Section 80TTB up to Rs 50,000 on interest income under the old regime.
SCSS vs a bank FD - which is better for a retiree?+
For most senior citizens the SCSS rate of 8.2% is higher than any bank or Post Office FD (5-year bank FDs are around 6.4-7.0% for seniors, Post Office Time Deposit 7.5%), and SCSS is sovereign-backed, so on rate and safety it usually wins. The trade-offs: SCSS caps you at Rs 30 lakh and is limited to those 60+ (or the early-retirement routes), the interest is only paid out quarterly (no compounding option), and the money is locked for 5 years with an early-exit penalty. A bank FD is open to any age, has flexible tenures and a cumulative (compounding) option, and small amounts can be broken more freely. Many retirees use SCSS up to the Rs 30 lakh cap first, then FDs or the Post Office Monthly Income Scheme for the balance.