What Is an SCSS Calculator?
An SCSS calculator shows the interest your Senior Citizen Savings Scheme deposit pays each quarter, when each payout arrives and what you get back at maturity.
How to Use the SCSS Calculator
Enter your deposit amount
₹1,000 to ₹30 lakh, in multiples of ₹1,000. Type it, slide or tap a preset.
Set your deposit date
It sets your payout calendar and the official rate for that date.
Check the interest rate
Filled in for you: 8.2% for new accounts. Different on your passbook? Tap Edit.
Check SCSS tax and extension
Pick your regime and slab under SCSS Interest After Tax & TDS. To extend, open Extend after 5 years.
Read your results
Quarterly payout, payout dates, early-closure cost and the full calculation.
SCSS Interest Rate 2026
SCSS rate for October to December 2026
Unchanged since 1 April 2023 (Ministry of Finance memo, 30 September 2026). Your rate stays locked for all 5 years.
Since 2004 the rate has ranged from 7.4% to 9.3%. At 8.2%, SCSS is level with Sukanya Samriddhi as the highest-paying post office savings scheme.
View the SCSS rate history since 2004
| Period | Rate (% a year) |
|---|---|
| 1 Apr 2023 to 31 Dec 2026 | 8.2 |
| 1 Jan 2023 to 31 Mar 2023 | 8.0 |
| 1 Oct 2022 to 31 Dec 2022 | 7.6 |
| 1 Apr 2020 to 30 Sep 2022 | 7.4 |
| 1 Jul 2019 to 31 Mar 2020 | 8.6 |
| 1 Oct 2018 to 30 Jun 2019 | 8.7 |
| 1 Jul 2017 to 30 Sep 2018 | 8.3 |
| 1 Apr 2017 to 30 Jun 2017 | 8.4 |
| 1 Oct 2016 to 31 Mar 2017 | 8.5 |
| 1 Apr 2016 to 30 Sep 2016 | 8.6 |
| 1 Apr 2015 to 31 Mar 2016 | 9.3 |
| 1 Apr 2013 to 31 Mar 2015 | 9.2 |
| 1 Apr 2012 to 31 Mar 2013 | 9.3 |
| 2 Aug 2004 to 31 Mar 2012 | 9.0 |
Source: National Savings Institute, SCSS interest rate since inception, and Department of Economic Affairs, small savings notifications.
How Much Monthly Income Can You Get From SCSS?
At 8.2%, every ₹1 lakh pays ₹2,050 a quarter, about ₹683 a month.
| Deposit | Every quarter | Monthly equivalent | Every year | Over 5 years |
|---|---|---|---|---|
| ₹5 lakh | ₹10,250 | ₹3,417 | ₹41,000 | ₹2,05,000 |
| ₹10 lakh | ₹20,500 | ₹6,833 | ₹82,000 | ₹4,10,000 |
| ₹15 lakh | ₹30,750 | ₹10,250 | ₹1,23,000 | ₹6,15,000 |
| ₹20 lakh | ₹41,000 | ₹13,667 | ₹1,64,000 | ₹8,20,000 |
| ₹30 lakh (limit per person) | ₹61,500 | ₹20,500 | ₹2,46,000 | ₹12,30,000 |
| ₹60 lakh (couple, two accounts) | ₹1,23,000 | ₹41,000 | ₹4,92,000 | ₹24,60,000 |
SCSS Eligibility and Deposit Limits
Who can open an SCSS account
Aged 60 or above
Any resident individual. No other condition.
Retired, aged 55 to 60
Retired on superannuation or VRS. Invest within 3 months of your retirement benefits, up to that amount.
Retired defence, from 50
Within 3 months of retirement benefits. Not civilian defence staff.
Spouse of a government employee
If the employee died in service after 50, the spouse can invest the financial assistance.
Open at any post office or authorised bank, alone or jointly with your spouse. Official details and forms: National Savings Institute’s SCSS page.
₹30 lakh limit, and ₹60 lakh for couples
In a joint account, the first holder’s age decides eligibility and the whole deposit counts towards their ₹30 lakh.
Who cannot invest
- Non-resident Indians (NRIs)
- Hindu undivided families (HUFs)
- Heirs of a serving employee, apart from the spouse provision above
SCSS Maturity and Extension Rules
- Day 1You deposit. The rate is locked for 5 years.
- Year 5Maturity. Close and take your deposit back, or extend.
- +3 yearsExtend with Form 4 within a year of maturity, at the rate in force then.
- +3, +3…Extend again in more 3-year blocks.
Rate on extension
Each block earns the SCSS rate in force when it starts.
Closing an extended account
Free after the first year of a block. Within the first year, 1% of the deposit is deducted.
If you do nothing at maturity
It earns only the post office savings rate.
If the account holder dies
The deposit goes to the nominee or heirs. An eligible spouse who is joint holder or sole nominee can continue it.
Is SCSS Interest Taxable?
Yes, SCSS interest is taxed at your slab rate. The old regime offers two deductions, now under new section numbers in the Income-tax Act, 2025 (from 1 April 2026).
| Rule | New section (old section) | Old regime | New regime |
|---|---|---|---|
| Deduction on the amount you deposit, up to ₹1.5 lakhSection 123 with Schedule XV (was 80C) | Section 123 with Schedule XV (was 80C) | Allowed | Not allowed |
| Deduction on interest for senior citizens, up to ₹50,000Section 153(1)(b) (was 80TTB) | Section 153(1)(b) (was 80TTB) | Allowed | Not allowed |
| Interest taxed at your slab rateIncome from other sources | Income from other sources | Yes | Yes |
| TDS when interest crosses ₹1 lakh a yearSection 393 (was 194A) | Section 393 (was 194A) | Yes | Yes |
Tax on SCSS interest
Taxed at your slab plus 4% cess. With the new regime’s rebate on income up to ₹12 lakh, many retirees pay none.
Deduction on the deposit (old regime)
Up to ₹1.5 lakh under section 123 (was 80C), shared with PPF and insurance. Taxed back if withdrawn within 5 years.
₹50,000 interest deduction for senior citizens
Section 153(1)(b), old regime only. Shared with your FD and savings interest.
TDS on SCSS and Form 121
10% TDS once interest crosses ₹1 lakh a year (deposits above about ₹12.2 lakh). No tax due? Submit Form 121, which replaced 15G and 15H.
TDS is adjusted against your final tax. More in our guide to income tax for senior citizens in India.
Is SCSS a Good Option for Retirement Income?
Where SCSS works well
- Safety: backed by the Government of India
- High, fixed rate: 8.2%, locked for 5 years
- Regular income: predictable quarterly payouts
- Tax relief: section 123 and 153 deductions (old regime)
Where SCSS falls short
- Taxable interest: less in hand at higher slabs
- ₹30 lakh cap: too small on its own for most retirements
- Flat income: payouts stay fixed while costs rise
- Early-exit cost: 1% to 1.5% of the deposit, or all interest in year one
SCSS vs FD vs Post Office MIS
| SCSS | Post Office MIS | Bank FD (senior citizen) | |
|---|---|---|---|
| Interest rate | 8.2%, fixed for 5 years | 7.4%, fixed for 5 years | Set by each bank |
| Payout | Quarterly | Monthly | Monthly, quarterly or at maturity |
| Maximum deposit | ₹30 lakh per person | ₹9 lakh single, ₹15 lakh joint | No limit |
| Safety | Government of India | Government of India | Insured up to ₹5 lakh per bank |
| Deduction on deposit | Yes, old regime | No | Only 5-year tax-saver FDs |
SCSS works best as the steady core of a wider income plan. See our comparison of SCSS vs Post Office MIS vs bank FD.
Common Mistakes With SCSS
Expecting a monthly payout
SCSS pays every quarter, so plan your budget around that.
Assuming interest compounds
The maturity amount is just your deposit back.
Missing the 3-month window
Retirees aged 55 to 60 must invest within 3 months of retirement benefits, or wait until 60.
Crossing ₹30 lakh across banks
The limit covers all your SCSS accounts together.
Forgetting Form 121
No tax due? Submit it every April to avoid TDS.
Letting maturity pass
Money left unextended earns only the savings account rate.