SCSS Calculator
Quarterly income from the Senior Citizen Savings Scheme.
Minimum ₹1,000, maximum ₹30 lakh, in multiples of ₹1,000.
8.2% for October–December 2026.
Term
Your result
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Enter your numbers to see the result.
This SCSS calculator shows the income from the Senior Citizen Savings Scheme. Enter your deposit, up to ₹30 lakh; at the current rate of 8.2%, it shows the quarterly interest, the yearly and total interest over 5 years, and whether the post office or bank may deduct TDS.
What is a SCSS Calculator?
The Senior Citizen Savings Scheme (SCSS) is a government-backed deposit for people aged 60 and above. Retired employees aged 55 to 60 can also invest within one month of receiving retirement benefits, and retired defence personnel from age 50. The deposit runs for 5 years and can be extended once by 3 years.
SCSS pays interest every quarter at a rate fixed when you open the account; it is currently 8.2%, among the highest of all small savings schemes. The maximum deposit is ₹30 lakh per person. An SCSS calculator shows how much quarterly income that produces.
How does the SCSS Calculator work?
SCSS pays simple interest quarterly. The calculator divides the yearly rate by four and multiplies by your deposit.
It also checks the TDS threshold for senior citizens: banks and post offices deduct 10% TDS when interest in a financial year exceeds ₹1,00,000, unless you submit Form 15H.
How to use the SCSS Calculator step by step
- Enter your deposit amount in multiples of ₹1,000.
- Check the SCSS rate, pre-filled with the current rate.
- Choose the term: 5 years or with the 3-year extension.
- Read the quarterly, yearly and monthly-equivalent income.
- Check the TDS line.
- Copy the result for your planning.
SCSS Calculator example with real numbers
A retired couple’s elder member, aged 62, deposits the maximum ₹30 lakh in SCSS at the current 8.2% rate.
| Example input | Value |
|---|---|
| Deposit amount | ₹30,00,000 |
| SCSS interest rate | 8.2% |
| Term | 5 years |
| Example output | Value |
|---|---|
| Interest every quarter | ₹61,500 |
| Total interest over 5 years | ₹12,30,000 |
| Deposit returned at maturity | ₹30,00,000 |
| TDS | 10% on interest above ₹1,00,000 a year, unless you submit Form 15H |
| Deduction on deposit (old regime) | Up to ₹1,50,000 (familiar as Section 80C) |
The SCSS calculator shows quarterly interest of ₹61,500. Over 5 years, total interest is ₹12,30,000. Because yearly interest is above ₹1 lakh, TDS will apply unless Form 15H is submitted where the total income is below the taxable limit.
Key features of this SCSS Calculator
- Current 8.2% rate pre-filled
- ₹30 lakh limit and ₹1,000 multiple checked
- Quarterly, yearly and monthly-equivalent income
- TDS threshold for senior citizens
- Extension option
Who should use the SCSS Calculator?
Who is this SCSS Calculator for?
- Senior citizens aged 60+
- Recent retirees aged 55–60 with retirement benefits
- Children helping parents plan retirement income
- Retired defence personnel
Practical use cases
- Finding the quarterly income from ₹30 lakh
- Comparing SCSS with a senior citizen FD
- Planning a couple’s income with two SCSS accounts
- Checking whether Form 15H is needed
Key benefits
- Highest safe rate: 8.2% backed by the government.
- Regular income: quarterly payouts.
- Tax planning: TDS check built in.
- Clear limits: warnings for invalid amounts.
Tips for better results
- Each spouse aged 60+ can open their own account with a ₹30 lakh limit.
- Submit Form 15H at the start of the year if your total income is below the taxable limit.
- Lock in when rates are high; the rate stays fixed for the term.
- Combine with POMIS or an SWP for monthly income.
Common mistakes to avoid
- Depositing more than ₹30 lakh in one person’s accounts.
- Assuming SCSS interest is tax-free.
- Closing within 1 year, which carries a 1.5% deduction from the deposit.
- Not planning for the 5-year maturity.
Limitations of this SCSS Calculator
- It assumes the opening rate for the full term, which is how SCSS works.
- On extension, the rate in force at that time applies; the calculator uses the same rate for illustration.
- Premature closure deductions are not modelled.
SCSS Calculator vs other ways to calculate
| Option | Rate | Payout | Max deposit |
|---|---|---|---|
| SCSS | 8.2% | Quarterly | ₹30 lakh per person |
| POMIS | 7.4% | Monthly | ₹9 lakh single / ₹15 lakh joint |
| Senior citizen bank FD | Varies | Monthly or quarterly | No limit |
| Annuity | Varies | Monthly for life | No limit |
For monthly income, compare with the Post Office MIS calculator. For flexible income from investments, see the SWP calculator.
Privacy and data handling
This SCSS Calculator runs entirely in your browser. The numbers you type are not sent to Qorico or stored on any server, and nothing is saved after you close the page. The Copy and Download buttons create the result on your own device. If the page has analytics turned on, it may count that a calculation happened, but it does not record the values you entered.
SCSS Calculator FAQs
What is the current SCSS interest rate?
SCSS earns 8.2% a year, paid quarterly, for accounts opened in October–December 2026.
How much quarterly interest on ₹30 lakh?
At 8.2%, ₹30 lakh earns ₹61,500 every quarter, or ₹2,46,000 a year.
Who is eligible for SCSS?
Individuals aged 60 or above; retired employees aged 55–60 who invest within a month of retirement benefits; retired defence personnel aged 50 or above.
Is SCSS interest taxable?
Yes, at your slab rate. TDS of 10% applies if yearly interest exceeds ₹1,00,000, unless you submit Form 15H.
Can I extend SCSS?
Yes, once, for 3 years, within one year of maturity. The rate in force at the time of extension applies.
Can a couple open two SCSS accounts?
Yes. Each eligible spouse can open an individual account, each up to ₹30 lakh, or they can hold a joint account counted against the first holder’s limit.
Related tools
Sources and references
We checked the method and the current figures used in this SCSS Calculator against these official and primary sources:
- National Savings Institute: small savings schemes
- India Post: Post Office Savings Schemes
- Department of Economic Affairs, Ministry of Finance
- Income Tax Department of India
Written and reviewed by the Qorico Team
