SCSS Calculator
How the Senior Citizen Savings Scheme works
SCSS is a government scheme for people aged 60+, offering 8.2% per annum paid every quarter as regular income. The calculator above works out your quarterly payout and total interest.
Key rules
| Feature | Detail |
|---|---|
| Eligibility | Age 60+ (55+ for some retirees, 50+ defence) |
| Interest | 8.2% p.a., paid quarterly |
| Maximum deposit | ₹30 lakh |
| Tenure | 5 years (extendable by 3) |
| Tax | Deposit 80C-eligible; interest taxable |
A worked example
Depositing ₹30,00,000 at 8.2%: annual interest ₹2,46,000; quarterly payout ₹61,500; total interest over 5 years about ₹12.3 lakh.
Frequently asked questions
What is the SCSS rate?
8.2% per annum, paid quarterly, for the current quarter.
What is the maximum deposit?
₹30 lakh per individual.
Who is eligible?
People aged 60+; 55+ for certain retirees/VRS and 50+ for defence personnel.
Is the interest taxable?
Yes; the deposit qualifies for 80C. TDS applies above the threshold (submit 15H if eligible).
What is the tenure?
5 years, extendable by a further 3 years.
Source: SCSS rules and the Ministry of Finance small-savings rate for the current quarter (8.2%). ComplyKraft is independent; this is not professional advice.