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SCSS calculator

Work out the quarterly income from a Senior Citizens Savings Scheme deposit at the current 8.2% rate, the tax on it and what the 3-year extension adds.

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Your SCSS deposit

Current rate 8.2% a year (Oct–Dec 2026), paid every quarter.

₹
₹1,000₹30 L
% p.a.
5%10%
TenureExtend in 3-year blocks at the rate then in force
Your tax slabSCSS interest is taxed at your slab rate

Open at 60, or from 55 (50 for defence retirees) if you invest retirement benefits within three months of receiving them. Deposits are in multiples of ₹1,000.

Your SCSS payouts

₹15,00,000 at 8.2% for 5 years; the deposit is returned at maturity.

Every quarter₹30,750₹24,354 after tax at 20%, about ₹10,250 a month
Deposit (returned at maturity)
₹15,00,000
Interest over 5 years
₹6,15,000
Interest a year
₹1,23,000
Tax on interest
₹1,27,920
Interest after tax
₹4,87,080
Every quarter₹30.75K
  • Interest of ₹1,23,000 a year is above ₹1,00,000, so the post office deducts 10% TDS (about ₹12,300 a year) unless you submit Form 15H because your tax is nil.
  • In the old tax regime, the deposit counts towards 80C in the year you invest: up to ₹31,200 saved at the 20% slab. The new regime has no 80C.
  • The limit is ₹30,00,000 per person, so a couple who are both 60+ can each open an account and draw up to ₹1,23,000 a quarter between them.
  • SCSS pays 8.2% against 7.4% on Post Office MIS. On ₹15,00,000 that is ₹12,000 more a year.

Payouts year by year

Interest is paid on the first working day of April, July, October and January.

YearInterestTax at 20%After taxInterest so far
Year 1₹1,23,000₹25,584₹97,416₹1,23,000
Year 2₹1,23,000₹25,584₹97,416₹2,46,000
Year 3₹1,23,000₹25,584₹97,416₹3,69,000
Year 4₹1,23,000₹25,584₹97,416₹4,92,000
Year 5₹1,23,000₹25,584₹97,416₹6,15,000

Tax is estimated at a flat slab with 4% cess. The extension years assume the same rate; the actual rate is the one in force when you extend.

About this calculator

How to use the SCSS calculator

  1. Enter your deposit, up to ₹30 lakh.
  2. Keep the current 8.2% rate or test another.
  3. Choose 5 years, or 8 years with one 3-year extension.
  4. Pick your tax slab to see the post-tax payout and whether TDS applies.

SCSS payouts at 8.2%

DepositQuarterlyMonthly equivalentYearly5 years
₹5,00,000₹10,250₹3,417₹41,000₹2,05,000
₹10,00,000₹20,500₹6,833₹82,000₹4,10,000
₹15,00,000₹30,750₹10,250₹1,23,000₹6,15,000
₹20,00,000₹41,000₹13,667₹1,64,000₹8,20,000
₹30,00,000₹61,500₹20,500₹2,46,000₹12,30,000

SCSS formula

Quarterly interest = deposit × rate ÷ 4

Interest is simple and paid out; it does not compound. For regular income without the age condition, compare the Post Office MIS calculator, or a senior citizen rate on the FD calculator.

Frequently asked questions

What is the SCSS interest rate now?

8.2% a year for October–December 2026, paid quarterly. The rate on the day you deposit is fixed for the 5-year term.

How much can I invest in SCSS?

At least ₹1,000, in multiples of ₹1,000, up to ₹30,00,000 per person across all SCSS accounts. A couple can each open accounts. At the limit, you get ₹61,500 a quarter.

Who can open an SCSS account?

Anyone aged 60 or more. Those who retired at 55 or later (including voluntary retirement) can open one before 60 if they invest within three months of receiving retirement benefits; retired defence personnel from 50.

Is SCSS interest taxable?

Yes, at your slab rate. The post office deducts 10% TDS if your SCSS interest exceeds ₹1,00,000 in a year, unless you submit Form 15H because your total tax is nil. In the old regime, the deposit qualifies for 80C up to ₹1.5 lakh.

Can I extend SCSS after 5 years?

Yes, in blocks of 3 years, as many times as you like since the November 2023 amendment. Apply within a year of maturity or of the end of each block. Each extension earns the rate in force on the date the account matures.

Can I close SCSS early?

Yes. Before 1 year, any interest paid is recovered from the deposit. Between 1 and 2 years, 1.5% of the deposit is deducted; after 2 years, 1%.

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Results are estimates for illustration, not tax or financial advice.