Senior Citizen Savings Scheme (SCSS) Calculator
Enter your deposit amount up to the statutory ₹30 Lakh limit and the interest rate. The calculator displays your quarterly pension credit, total interest over 5 years, and Section 194A TDS status.
A ₹30,00,000 deposit in the Senior Citizen Savings Scheme at the current 8.2% sovereign rate pays ₹61,500 every quarter (₹2,46,000 per year), with the full ₹30,00,000 principal refunded at 5 years.
🏛️ Official SCSS Interest Rate:
Current notified rate is 8.2% per annum (notified by Reserve Bank of India / Ministry of Finance Gazette, effective 2026-10-01, verified 2026-10-01). Paid quarterly directly into your bank or post office account.
Statutory maximum limit is ₹30,00,000 per individual (raised from ₹15 Lakhs in Budget 2023).
SCSS accounts can be extended once for an additional 3-year block within 1 year of maturity.
Quarterly payout
₹30,750
credited every 3 months
Annual interest income
₹1,23,000
Total interest (5 yrs)
₹6,15,000
Principal refunded
₹15,00,000
Quarterly Payout Schedule:
Interest is credited automatically on the first working day of April, July, October, and January.
⚠️ Your annual interest (₹1,23,000) exceeds the ₹50,000 threshold for senior citizens. 10% TDS will apply at source unless you submit Form 15H.
Quarterly Interest Payout Schedule (20 Quarters)
| Quarter | Payout Date | Payout Amount | Cumulative Interest | Principal Refundable |
|---|---|---|---|---|
| Quarter 1 | 1 Apr (Year 1) | ₹30,750 | ₹30,750 | ₹15,00,000 |
| Quarter 2 | 1 Jul (Year 1) | ₹30,750 | ₹61,500 | ₹15,00,000 |
| Quarter 3 | 1 Oct (Year 1) | ₹30,750 | ₹92,250 | ₹15,00,000 |
| Quarter 4 | 1 Jan (Year 1) | ₹30,750 | ₹1,23,000 | ₹15,00,000 |
| Quarter 5 | 1 Apr (Year 2) | ₹30,750 | ₹1,53,750 | ₹15,00,000 |
| Quarter 6 | 1 Jul (Year 2) | ₹30,750 | ₹1,84,500 | ₹15,00,000 |
| Quarter 7 | 1 Oct (Year 2) | ₹30,750 | ₹2,15,250 | ₹15,00,000 |
| Quarter 8 | 1 Jan (Year 2) | ₹30,750 | ₹2,46,000 | ₹15,00,000 |
| Quarter 9 | 1 Apr (Year 3) | ₹30,750 | ₹2,76,750 | ₹15,00,000 |
| Quarter 10 | 1 Jul (Year 3) | ₹30,750 | ₹3,07,500 | ₹15,00,000 |
| Quarter 11 | 1 Oct (Year 3) | ₹30,750 | ₹3,38,250 | ₹15,00,000 |
| Quarter 12 | 1 Jan (Year 3) | ₹30,750 | ₹3,69,000 | ₹15,00,000 |
| Quarter 13 | 1 Apr (Year 4) | ₹30,750 | ₹3,99,750 | ₹15,00,000 |
| Quarter 14 | 1 Jul (Year 4) | ₹30,750 | ₹4,30,500 | ₹15,00,000 |
| Quarter 15 | 1 Oct (Year 4) | ₹30,750 | ₹4,61,250 | ₹15,00,000 |
| Quarter 16 | 1 Jan (Year 4) | ₹30,750 | ₹4,92,000 | ₹15,00,000 |
| Quarter 17 | 1 Apr (Year 5) | ₹30,750 | ₹5,22,750 | ₹15,00,000 |
| Quarter 18 | 1 Jul (Year 5) | ₹30,750 | ₹5,53,500 | ₹15,00,000 |
| Quarter 19 | 1 Oct (Year 5) | ₹30,750 | ₹5,84,250 | ₹15,00,000 |
| Quarter 20 | 1 Jan (Year 5) | ₹30,750 | ₹6,15,000 | ₹15,00,000 |
Quarterly payout
₹30,750
- What it is:
- A calculator for the Government of India Senior Citizen Savings Scheme.
- What it calculates:
- The exact quarterly interest payout, annual cashflow, and Section 194A tax deductions.
Key Assumptions
- The depositor is eligible (age 60+ or 55+ with qualifying retirement conditions).
- The deposit is maintained for the full 5-year tenure without premature closure.
- Payouts occur on the standard quarterly payment dates.
How it works
The Senior Citizen Savings Scheme (SCSS) is a sovereign-backed fixed-income scheme for Indian residents aged 60 years or above (55+ for superannuation retirees).
The maximum deposit limit per individual was raised to ₹30 Lakhs in Budget 2023 (from ₹15 Lakhs previously). Deposits must be in multiples of ₹1,000.
Interest does not compound; it is paid out quarterly directly to your bank or post office savings account on the first working day of April, July, October, and January.
The standard tenure is 5 years, which can be extended once for an additional 3-year block within 1 year of maturity.
Investments qualify for tax deduction under Section 80C up to ₹1.5 Lakhs (under the Old Tax Regime). Under Section 194A, TDS applies at 10% if annual interest exceeds ₹50,000 for senior citizens (submitting Form 15H avoids TDS if total taxable income is below the basic exemption limit).
Formula
Quarterly Payout = (Deposit x r) / 400 | Total Interest = Quarterly Payout x (Tenure x 4)
- Deposit
- = one-time deposit in rupees (max ₹30,00,000)
- r
- = annual sovereign interest rate in percent (e.g. 8.2%)
- Tenure
- = duration in years (5 years standard, or 8 years extended)
Interest is non-cumulative and credited quarterly on the 1st of April, July, October, and January.
Example calculation
₹30,00,000 maximum deposit in SCSS at 8.2%
- Deposit amount
- ₹30,00,000
- Quarterly interest payout
- ₹61,500
- Annual interest income
- ₹2,46,000
- Total interest over 5 years
- ₹12,30,000
- Principal refunded at maturity
- ₹30,00,000
- Quarterly payout dates
- 1st of April, July, October, January
Frequently asked questions
What is the maximum limit in Senior Citizen Savings Scheme (SCSS)?
When is SCSS interest paid out?
Is SCSS interest tax-free?
Can an SCSS account be extended after 5 years?
Related calculators
Tools that complement this calculation.
Further reading
Calculate your target retirement corpus in India accounting for inflation, life expectancy, and post-retirement expenses. Find your required monthly SIP.
Find out exactly how much a ₹10,000 monthly SIP becomes after 10 years at 10%, 12%, and 15% CAGR. Detailed return breakdown and post-tax numbers.
Calculate your 15-year Public Provident Fund (PPF) maturity value at 7.1% interest. Learn about EEE tax status, partial withdrawals, and 5-year extensions.
Compare Public Provident Fund (PPF) and National Pension System (NPS). Detailed breakdown of equity exposure, tax deductions (80CCD), lock-ins, and annuities.
Authoritative Sources
- Reserve Bank of India - Senior Citizens Savings Scheme Guidelines· verified 1 October 2026
- Ministry of Finance, Government of India - Budget 2023 Gazette· verified 1 October 2026
Reviewed by Pradipta Ray, Editor · Updated