Estimate the quarterly interest payout from a Senior Citizens Savings Scheme deposit at a rate you enter.
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Calculated from your inputs
Quarterly interest payout
Total interest payouts
Principal returned at maturity
Total cash received over term
How this is calculated
Interest is paid quarterly without reinvestment; principal is returned at the end of the entered term. Does not determine eligibility, deposit limits, closure charges or tax.
Defaults are editable examples, not current provider quotes. Results are rounded for display. These are scenarios from your inputs, not live market data or investment advice.
The Senior Citizens Savings Scheme (SCSS) is a government deposit for people aged 60 and above, and some younger retirees. It runs for five years, can be extended, and pays interest every quarter.
How the SCSS calculator works
Quarterly interest = Deposit × annual rate ÷ 4
Interest is paid out each quarter and not reinvested. The calculator adds the payouts over the term and the principal returned at maturity.
Worked example
Example inputs
Deposit amount
₹10,00,000
Assumed annual rate
8.2%
Time period
5 years
Calculated result
Quarterly interest payout
₹20,500
Total interest payouts
₹4,10,000
Principal returned at maturity
₹10,00,000
Total cash received over term
₹14,10,000
Why use a SCSS calculator?
Estimate a regular income after retirement.
Compare SCSS with a senior-citizen FD.
SCSS calculator FAQs
Who can open an SCSS account?
Individuals aged 60 or above. Some retirees between 55 and 60, and retired defence personnel from 50, can open one within the time allowed after retirement.
Is there a deposit limit?
Yes, the scheme sets a maximum per individual. Check India Post for the current limit.
Is SCSS interest taxable?
Yes, at your slab rate, with TDS above the threshold. The deposit can qualify for a deduction under the old tax regime.
Can the account be extended?
Yes, for a further block after maturity, at the rate applicable then.
Does the rate change during the term?
No. The rate on the day of the deposit applies for the term.