Senior Citizen Savings Scheme Calculator

Calculate the quarterly interest payout and total returns on a Senior Citizen Savings Scheme (SCSS) deposit over its 5-year tenure.

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Works on all devices

Data period: Senior Citizens Savings Scheme rate for July–September 2026 (8.2% p.a.)
Source: National Savings Institute, Ministry of Finance (DEA), Government of India
Last updated: 24-09-2026

Enter your SCSS deposit amount to calculate the quarterly interest payout at the current 8.2% rate, paid out over the scheme's 5-year tenure.

Deposit amount *

₹

Maximum deposit limit is ₹30,00,000 (single or joint account combined).

Your result

₹30,750

Quarterly interest payout

Annual interest payout₹1,23,000

Total interest over 5-year tenure₹6,15,000

Principal + interest at maturity₹21,15,000

AI explanation

Formula

Annual interest = principal × rate. Quarterly payout = annual interest / 4. Interest is paid out, not compounded.

Worked example

₹15,00,000 deposit

Worked example: ₹15,00,000 deposit
Field	Value
Deposit amount	₹15,00,000
Quarterly interest payout	₹30,750
Annual interest payout	₹1,23,000
Total interest over 5-year tenure	₹6,15,000
Principal + interest at maturity	₹21,15,000

Assumptions and limitations

This calculator assumes

SCSS interest rate is 8.2% p.a., notified for the Jul-Sep 2026 quarter and revised quarterly by the Ministry of Finance.
Interest is paid out quarterly rather than compounded — the principal is returned in full at maturity.
Standard 5-year tenure assumed (extendable once by 3 years on maturity, not modeled here).

What it does not account for

Uses the rate notified for July–September 2026. Rates are revised every quarter; whether a revision changes the return on an existing deposit depends on the scheme's rules.

Frequently asked questions

Who can open an SCSS account?

Indian residents aged 60+ (55+ for those who took voluntary retirement, and retired defence personnel of any age) can open an SCSS account at a post office or authorised bank.

Is SCSS interest taxable?

Yes, SCSS interest is fully taxable as per your income tax slab. TDS applies if total interest exceeds the threshold specified under Section 194A.

Can I extend my SCSS account after 5 years?

Yes, SCSS accounts can be extended once for an additional 3 years within one year of maturity, at the interest rate applicable on the date of extension.

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Sources

Official sources

Interest Rate on National Savings Schemes (Senior Citizens Savings Scheme: 8.2% p.a. for July–September 2026) — National Savings Institute, Ministry of Finance (DEA), Government of India. Effective 01-07-2026, checked 24-09-2026.