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SCSS Calculator

Senior Citizen Savings Scheme - 8.2% Interest | Quarterly Payouts


Invested

Total Interest

Maturity Amount
Investment ₹
Quarterly Interest ₹
Annual Interest ₹
Total Interest (5 years) ₹
Maturity ₹
80C Benefit ₹
Note: SCSS interest rate as of Q4 FY 2026-27 is 8.2% p.a. Interest paid quarterly. Age 60+ required. Max investment ₹30L (₹15L per account).

👴 SCSS Calculator India (FY 2026-27)

Calculate Senior Citizen Savings Scheme (SCSS) maturity amount and quarterly interest with 8.2% interest rate for FY 2026-27. SCSS is a government-backed scheme for senior citizens with Section 80C tax benefits and quarterly interest payouts.

💡 What is SCSS (Senior Citizen Savings Scheme)?

SCSS is a post office savings scheme exclusively for senior citizens (60+ years). It offers regular quarterly income with one of the highest interest rates among safe investment options.

🧮 SCSS Calculation Formula

Quarterly Interest = Principal × (8.2% / 4)

  • Annual Interest = Principal × 8.2%
  • Maturity Amount = Principal + (Principal × 8.2% × 5)
  • Interest paid quarterly for regular income

📈 SCSS Interest Rate (FY 2026-27)

Current SCSS interest rate: 8.2% per annum. Interest is paid quarterly (every 3 months) directly to your bank account. This is one of the highest safe returns available for senior citizens.

📌 SCSS Key Features

  • ✔ Eligibility: 60+ years (55+ for VRS/retired defense personnel)
  • ✔ Minimum Investment: ₹1,000
  • ✔ Maximum Investment: ₹30 lakh (₹15L per account, max 2 accounts)
  • ✔ Tenure: 5 years (extendable by 3 years)
  • ✔ Interest Payout: Quarterly (April, July, October, January)
  • ✔ Tax Benefit: Section 80C deduction up to ₹1.5L
  • ✔ Interest Taxable: As per income tax slab
  • ✔ TDS: Applicable if interest > ₹50,000/year
  • ✔ Premature Withdrawal: Allowed after 1 year with penalty

💰 Tax Benefits & TDS

  • ✔ 80C Deduction: Investment qualifies for up to ₹1.5L deduction
  • ✔ Interest Taxable: Added to your income, taxed at slab rate
  • ✔ TDS: 10% TDS deducted if total interest exceeds ₹50,000/year
  • ✔ Form 15H: Submit to avoid TDS if total income below taxable limit

📊 SCSS vs Other Senior Citizen Schemes

Scheme Interest Payout
SCSS8.2%Quarterly
Senior Citizen FD7.0-7.5%Maturity/Periodic
PMVVY7.4%Monthly

❓ FAQ - SCSS Calculator

1. What is SCSS?

Senior Citizen Savings Scheme is a government-backed savings scheme for people aged 60+ offering 8.2% interest with quarterly payouts.

2. What is SCSS interest rate for FY 2026-27?

The current SCSS interest rate is 8.2% per annum paid quarterly.

3. Who is eligible for SCSS?

Indian citizens aged 60 years and above. Also eligible: 55+ for VRS, 50+ for retired defense personnel.

4. What is maximum investment in SCSS?

Maximum ₹30 lakh total - you can open 2 accounts of ₹15 lakh each.

5. When is SCSS interest paid?

Interest is paid quarterly in April, July, October, and January.

6. Is SCSS tax-free?

Investment gets 80C deduction, but interest earned is taxable as per your income tax slab.

7. Can I withdraw SCSS before 5 years?

Yes, premature withdrawal allowed after 1 year with 1.5% penalty (after 2 years: 1% penalty).

8. Can I extend SCSS beyond 5 years?

Yes, account can be extended for additional 3 years after maturity.

9. Is TDS deducted on SCSS interest?

Yes, 10% TDS if annual interest exceeds ₹50,000. Submit Form 15H to avoid TDS if income is below taxable limit.

10. Can husband and wife both open SCSS accounts?

Yes, both can open separate SCSS accounts of ₹15 lakh each if both are 60+.

👉 This calculator provides estimated SCSS returns based on current rates for FY 2026-27. Open account at any post office or authorized bank.