The Senior Citizens' Savings Scheme is a 5-year government deposit for people aged 60 and above that pays interest every quarter.

Does SCSS give a tax benefit?

Deposits qualify for Section 80C in the old regime. The interest is taxable, with TDS once it crosses ₹1 lakh a year.

SCSS Calculator India

The SCSS calculator shows the quarterly interest from a Senior Citizen Savings Scheme deposit. Enter the amount and your age to see the quarterly and yearly income.

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How the SCSS Calculator India works

SCSS pays 8.2% a year, one of the highest small savings rates, with interest paid every quarter. The government sets small savings rates every quarter. This guide uses the rates the calculator uses, notified for Jul–Sep 2026.

It is generally for people aged 60 or above, with limited early-retirement exceptions. The maximum deposit is ₹30 lakh.

The tenure is 5 years and can be extended. Interest is taxable, and Section 80TTB may help seniors.

Formula

Quarterly interest = P × r ÷ 4

P = amount deposited
r = 8.2% a year (as a decimal)

Worked example: ₹30,00,000 in SCSS at 8.2%

Yearly interest = ₹30,00,000 × 8.2% = ₹2,46,000.
Quarterly interest = ₹2,46,000 ÷ 4 = ₹61,500.
Over 5 years you receive ₹12,30,000 in interest.
The ₹30 lakh principal comes back at maturity.

SCSS income at 8.2%
Deposit	Quarterly interest	Yearly interest	Monthly equivalent
₹5,00,000	₹10,250	₹41,000	₹3,417
₹10,00,000	₹20,500	₹82,000	₹6,833
₹20,00,000	₹41,000	₹1,64,000	₹13,667
₹30,00,000	₹61,500	₹2,46,000	₹20,500

Illustrative, assuming a constant rate. Actual returns and rates vary.

Tips

SCSS pays more than MIS (7.4%), so seniors may prefer to fill SCSS first.
Interest arrives every quarter, so keep a small buffer for monthly spending.
Check your eligibility and the latest rules at India Post before you deposit.

Want to know if your whole plan is on track? Get your free money score in about two minutes. No PAN, no Aadhaar.

About the SCSS Calculator India

Free SCSS (Senior Citizens' Savings Scheme) calculator. Estimate the quarterly interest at 8.2% p.a. for depositors aged 60+, up to ₹30 lakh.

Frequently asked questions

What is SCSS?: The Senior Citizens' Savings Scheme is a 5-year government deposit for people aged 60 and above that pays interest every quarter.
Who can invest in SCSS?: Generally individuals aged 60 or above (with limited early-retirement exceptions). Maximum deposit is ₹30 lakh.
Does SCSS give a tax benefit?: Deposits qualify for Section 80C in the old regime. The interest is taxable, with TDS once it crosses ₹1 lakh a year.

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