SCSS Calculator
Calculate your quarterly interest income from the Senior Citizen Savings Scheme.
Investment Details
₹
Max ₹30 Lakhs (₹15L individual, ₹30L joint)
%
Current rate: 8.2% (Q1 FY25)
Years
Standard: 5 years (extendable by 3)
About SCSS
SCSS is a government-backed savings scheme for individuals aged 60+. Interest is paid quarterly and is taxable.
Quarterly Interest Income
₹ 0
Paid every quarter (March, June, Sept, Dec) on your investment of ₹ 15,00,000.
Monthly (Approx)
0
Yearly Interest
0
Total Interest
0
Maturity Value
0
Quarterly Interest Payouts
Documentation
How SCSS Works
Eligibility
- Individual aged 60 years or above
- Retired employees (55-60) can invest within 1 month of retirement
- Maximum investment: ₹30 Lakhs per individual
Interest Calculation
"Quarterly Interest = Principal × (Annual Rate ÷ 4)"
Key Features
Quarterly = P × r4
₹ 0 = ₹ 15,00,000 × (8.2% ÷ 4)
- 5-year tenure (extendable by 3 years)
- Interest paid quarterly (not compounded)
- Tax deduction under Section 80C (up to ₹1.5L)
- Interest is taxable as per income slab
Last Updated: January 2026
Disclaimer: Interest rates are subject to quarterly revision by the government. TDS is applicable if interest exceeds ₹50,000 per year.