SCSS Calculator

Calculate your quarterly interest payout and total maturity amount from the Senior Citizen Savings Scheme.

Max limit is ₹30 Lakh. Must be in multiples of ₹1,000.
Current standard rate is approx 8.2% p.a.
The SCSS scheme comes with a mandatory 5-year lock-in period.
Bhai, the maximum allowed investment in the Senior Citizen Savings Scheme is ₹30,000,000 (₹30 Lakh).

SCSS Investment Summary

Guaranteed Quarterly Payout

₹0

Total Interest Earned (5 Years)

₹0

Maturity Amount (Principal Returned)

₹0

How Does the Senior Citizen Savings Scheme (SCSS) Work?

The Senior Citizen Savings Scheme (SCSS) is a government-backed retirement benefits program designed exclusively for Indians aged 60 years and above. Offering one of the highest interest rates among fixed-income options, it provides a safe, reliable, and regular stream of income to retirees without exposing their capital to market risks.

Using our online SCSS Calculator helps you plan your retirement cash flow efficiently. Unlike fixed deposits where interest might compound, the Senior Citizen Savings Scheme interest rate is applied annually but paid out strictly on a quarterly basis. By entering your lump-sum deposit amount, our SCSS quarterly interest calculator immediately shows you exactly how much money will be credited to your bank account every three months over the mandatory 5-year tenure.

Frequently Asked Questions About the SCSS Calculator

What is the maximum investment limit for SCSS?
As per the latest budget updates, the maximum amount an individual can invest in the Senior Citizen Savings Scheme has been increased to ₹30 Lakhs. Investments must be made in multiples of ₹1,000.
How is the SCSS quarterly interest calculated?
The interest is calculated using a simple formula: (Principal Investment × Annual Interest Rate) / 400. This guaranteed amount is then credited directly to the investor's linked savings account at the end of every quarter (March, June, September, and December).
Are there any tax benefits under the SCSS?
Yes. The principal amount invested in SCSS qualifies for tax deductions up to ₹1.5 Lakh under Section 80C of the Income Tax Act. However, the quarterly interest you earn is fully taxable according to your income tax slab, and TDS will be deducted if your annual interest exceeds ₹50,000.

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