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Senior Citizens Savings Scheme

SCSS Calculator

See the regular income a Senior Citizens' Savings Scheme deposit pays. Enter the amount (up to ₹30 lakh) and get the quarterly and monthly interest, the total over the tenure, and a TDS and after-tax view.

All tools SCSS Post Office MIS FD NSC Retirement Income Tax

Your SCSS deposit

₹
Interest every quarter—paid into your bank account each quarter
Monthly equivalent—
Interest per year—
Total interest over the tenure—
Principal returned at the end—
After-tax interest per quarter (approx.)—

See year-by-year interest
YearInterestAfter taxCumulative

How it's calculated

The Senior Citizens' Savings Scheme pays interest every quarter at a rate fixed when you open the account: quarterly interest = deposit × annual rate ÷ 4. The account runs for 5 years and can be extended in 3-year blocks, and your principal comes back in full at the end. You can deposit up to ₹30 lakh across all your SCSS accounts, in multiples of ₹1,000.

Example: ₹30 lakh at 8.2% pays ₹61,500 a quarter — ₹2,46,000 a year and ₹12,30,000 over five years.

Interest is fully taxable at your slab. TDS applies once total interest in a year crosses ₹1,00,000 (the threshold for senior citizens from FY 2025-26); Form 15H can avoid it if your total tax is nil. Deposits qualify for Section 80C up to ₹1.5 lakh under the old regime. After-tax figures are approximate and ignore surcharge. If you extend, the rate on the extension is the rate prevailing at maturity — this calculator assumes the same rate.

Frequently asked questions

Who can open an SCSS account?
Resident Indians aged 60 or above. Those aged 55 to 60 who have retired under superannuation or VRS can also open one, within a time limit after receiving their retirement benefits, and retired defence personnel from age 50 under certain conditions. NRIs and HUFs aren't eligible.
What are the early-closure penalties?
Closing within the first year earns no interest, and any interest already paid is recovered. After one year but before two, 1.5% of the deposit is deducted; after two years, 1% is deducted. After the 5-year term, an extended account can be closed after a year without penalty.
Is there TDS on SCSS interest?
Yes, once your total interest for the year exceeds ₹1,00,000 (raised from ₹50,000 for senior citizens from FY 2025-26). TDS is 10% with PAN, 20% without. If your total taxable income is below the exemption limit, submit Form 15H to avoid it. Use the income tax calculator to see your actual liability.
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