Govt schemes
SCSS Calculator
Senior Citizens Savings Scheme quarterly income.
How to use this
Adjust the sliders and the result updates instantly. The figure uses standard formulas and current FY 2025-26 rates — treat it as an estimate to compare your options, then confirm the exact terms with your bank, fund or the department.
Quarterly payout
₹30.75K
Interest / 5 yr₹6.15L
Principal back₹15L
₹15,00,000 pays ₹30,750 every quarter for 5 years — ₹6,15,000 total interest, principal returned at maturity.
Partner offer
Open an SCSS account
For investors 60+.
Know the scheme: Senior Citizens’ Savings Scheme (SCSS)
| Interest rate | 8.2% p.a., simple interest paid out quarterly |
| Tenure | 5 years, extendable once by 3 years |
| Deposit | ₹1,000 min – ₹30 lakh max (raised from ₹15L in 2023) |
| Who can open | 60+; 55+ with superannuation/VRS; 50+ retired defence. Joint account with spouse only |
| Tax | Deposits qualify for 80C; interest is fully taxable, TDS applies past the senior threshold |
| Where to open | Post offices and authorised banks |
Key rules
- Interest is paid out every quarter — it does not compound; plan to reinvest payouts if you don’t need the income.
- Premature closure: 1.5% of the deposit is deducted before 2 years, 1% after 2 years.
- One extension of 3 years is allowed within a year of maturity, at the rate prevailing on the extension date.
- NRIs and HUFs cannot open SCSS accounts. Nomination is available.
Frequently asked
Is the SCSS Calculator free to use?
Yes — every Arthly calculator is free, with no sign-up or app install required.
How accurate is the SCSS Calculator?
It uses standard financial formulas and current FY 2025-26 rates. Results are estimates to help you plan, not personalised financial advice — confirm details with your bank, fund or the relevant department.