SCSS Calculator
Senior Citizens Savings Scheme — quarterly income, 5-yr tenure
₹15,00,000
65 years
8.2%
Tenure: 5 years (extendable by 3 yrs)
Payout: interest credited every quarter
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Quarterly interest income
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Annual interest income
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Maturity value (= deposit)
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Maturity date
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Total interest over 5 yrs
Quarterly income for retirees
SCSS pays interest out every quarter — it is not reinvested. Your deposit of ₹15,00,000 comes back to you in full at maturity after 5 years. Interest is fully taxable.
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How SCSS interest works
- Interest is paid out, not compounded. Every quarter the bank/post office credits the interest to your savings account; the principal stays intact and is returned at the end of 5 years.
- Quarterly income = (Deposit × Rate) ÷ 4. Annual income = Deposit × Rate. Total over 5 years = Deposit × Rate × 5.
- Rate is fixed for your entire 5-year term at the rate prevailing on the date you open the account. Enter the currently notified rate for an estimate.
- Extension: on maturity you can extend for 3 more years at the rate then applicable.
Tax note: SCSS interest is fully taxable at your slab rate. From FY 2025-26, TDS of 10% is deducted if total interest in a year exceeds ₹1,00,000 (₹50,000 was the prior threshold for senior citizens under section 194A). Submit Form 15H only if your total income is below the taxable limit — otherwise tax still applies.