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
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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