SCSS Calculator
The quarterly interest from a Senior Citizens Savings Scheme deposit at the current rate, and what it pays over five years.
Result
Interest each quarter: ₹61,500.00Estimate
The rate is fixed for the life of the deposit. Interest is taxable and tax may be deducted at source.
- Interest a year
- ₹2,46,000.00Estimate
- Interest over five years
- ₹12,30,000.00Estimate
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Results are arithmetic on the returns, rates and horizons you enter, not a forecast and not investment, tax or retirement advice. The site supplies no expected return, inflation rate, contribution limit, tax rate or withdrawal rate. Real returns vary from year to year, and fees, taxes and the order of returns all change the outcome. Check anything that matters with a qualified adviser. Read the full disclaimer
How to use the SCSS Calculator
- Enter the amount you will deposit, in multiples of ₹1,000, up to ₹30 lakh.
- Read the interest paid each quarter, each year and over the five-year term.
- For an account opened at an older rate, change the rate under More options.
How the payout is worked out
SCSS pays out its interest every quarter instead of adding it to the deposit, so it does not compound. The quarterly payment is a quarter of a year’s interest, rounded to the nearest rupee as the scheme rules require.
each quarter = deposit × rate ÷ 4 (rounded to the rupee)each year = 4 × each quarterfive years = 20 × each quarterThe rate in force when you open the account stays for the whole term. The account matures after five years and can be extended once for three more years at the rate then in force.
With your numbers
- Quarterly interest = deposit × rate ÷ 4, rounded to the rupee
- Interest is paid out, not added, so it does not compound
Quick reference
The rate is fixed for the life of the deposit. Interest is taxable and tax may be deducted at source.
| Example | Interest each quarter |
|---|---|
| ₹30,00,000 | ₹61,500.00 |
| ₹20,00,000 | ₹41,000.00 |
| ₹15,00,000 | ₹30,750.00 |
| ₹10,00,000 | ₹20,500.00 |
| ₹5,00,000 | ₹10,250.00 |
| ₹1,00,000 | ₹2,050.00 |
Where the numbers come from
The fixed figures this calculator relies on, and the published source each one was checked against. How the calculators are built and checked
4 sources
DEA Office Memorandum F.No.1/4/2019-NS of 30.09.2026, rates for 1.10.2026 to 31.12.2026 "shall remain unchanged" from the second quarter, https://dea.gov.in/files/budget_division_documents/R.pdf, carrying the rate table of the OM of 29.12.2023, https://dea.gov.in/files/budget_division_documents/Q4_2023_24.pdf: "Senior Citizen Savings Scheme 8.2"
Used for
- Senior Citizens Savings Scheme interest rate, October to December 2026.
Senior Citizens Savings Scheme, 2019, para 4(1), as amended by G.S.R. 240(E) of 31.03.2023: "not exceeding thirty lakh rupees", https://www.nsiindia.gov.in/InternalPage.aspx?Id_Pk=168
Used for
- SCSS: most that may be held across accounts.
Senior Citizens Savings Scheme, 2019, para 4(1), https://www.nsiindia.gov.in/InternalPage.aspx?Id_Pk=168
Used for
- SCSS: least deposit, in multiples of a thousand rupees.
Senior Citizens Savings Scheme, 2019, https://www.nsiindia.gov.in/InternalPage.aspx?Id_Pk=168
Used for
- SCSS: the account matures after five years.
Common questions about the SCSS Calculator
- Who can open an SCSS account?
- A resident individual aged 60 or over. People who retired early on superannuation or a voluntary scheme can open one from 55, and retired defence personnel from 50, within a month of receiving their retirement benefits.
- How much can I deposit?
- From ₹1,000 in multiples of ₹1,000, up to ₹30 lakh across all your SCSS accounts. A couple can each hold up to ₹30 lakh in their own accounts.
- When is the interest paid?
- On the first working day of April, July, October and January. The first payment covers the part of the quarter from the deposit date, so it is smaller than the rest. The page shows a full quarter.
- Is SCSS interest taxable?
- Yes, at your slab rate, and tax may be deducted at source above the yearly threshold unless you file the declaration that you owe no tax. The deposit itself qualifies for the savings deduction under the old tax regime.