Senior Citizen Savings Scheme (SCSS) Calculator

SCSS — 60+ years pension scheme, current 8.2% p.a., quarterly interest, ₹30L cap, 5-year tenure. Section 80C benefit.

Inputs

₹
₹1K₹3M
%
5%12%

Result

Quarterly interest
₹30,750
  • Deposit₹1,500,000
  • Total interest over 5 years₹615,000
  • Total return41.0%
  • Monthly income equivalent₹10,250
  • Principal returned at maturity (5 years)₹1,500,000
  • Total received₹2,115,000

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How to use this calculator

  • Enter deposit amount (within ₹30L cap).
  • Enter current SCSS rate.
  • Read quarterly interest + total over 5 years.

About this tool

Senior Citizen Savings Scheme (SCSS) is India's highest-yielding government-backed savings option for people aged 60+ (55+ for VRS/retirees). Current rate is 8.2% p.a., paid QUARTERLY into your bank account for reliable retirement income. Deposit cap is ₹30 lakh (raised from ₹15L in Budget 2023). Section 80C deduction available on principal (₹1.5L cap, combined with other 80C investments). 5-year tenure, extendable by 3 more years. Interest is fully taxable at slab rate; TDS at 10% if interest exceeds ₹50,000/year.

Frequently asked

Individuals aged 60+ years OR retired defense personnel aged 50+ OR VRS retirees aged 55+. NRIs and HUFs are NOT eligible. Account can be individual or joint (with spouse only).

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