Free SCSS calculator
Enter your deposit, the interest rate and the tenure — and get the payout every quarter, the income for the year, the monthly average and the total interest, with your deposit back in full at maturity.
An estimate for planning — not financial, tax or legal advice. This tool is an estimate for planning: the SCSS rate is notified every quarter and can change for new accounts, so the projection holds today's 8.2% steady for the term you pick. It is not financial, tax or legal advice. Check the rules table below before you rely on it.
Example figures are filled in. Replace them with your own numbers.
₹15,00,000 at 8.2% for 5 years: you receive ₹30,750 every quarter — ₹1,23,000 a year, ₹6,15,000 over 5 years.
Matures in 2031 · 20 quarterly payouts · ₹15,00,000 returned in full at maturity.
Simple interest, paid quarterly · rate held steady at 8.2% for the full term.
The figure is an estimate at the rate you enter, held steady for the term. The SCSS rate is notified every quarter and can change for new accounts, and the interest is taxable in the year it is paid.
Select Calculate to keep up to five checks while this page is open.
Year by year
The same interest every year — simple interest on your original deposit, paid out each quarter, never added to the principal.
| Year | Interest paid that year | Cumulative interest |
|---|---|---|
| Year 1 | ₹1,23,000 | ₹1,23,000 |
| Year 2 | ₹1,23,000 | ₹2,46,000 |
| Year 3 | ₹1,23,000 | ₹3,69,000 |
| Year 4 | ₹1,23,000 | ₹4,92,000 |
| Year 5 | ₹1,23,000 | ₹6,15,000 |
Understand the result
The Senior Citizens Savings Scheme is a 5-year government deposit for senior citizens, run through post offices and authorised banks. You deposit a lump sum — at least ₹1,000, in multiples of ₹1,000, up to ₹30 lakh per person across all your SCSS accounts — and the scheme pays 8.2% a year for October to December 2026 as simple interest, every quarter. The interest never compounds: it is paid out to your savings account, and your deposit comes back in full at maturity. On ₹15,00,000 that is ₹30,750 every quarter, ₹1,23,000 a year and ₹6,15,000 over 5 years. This calculator works out the payout from your own figures and lists the income year by year.
Interest is simple, so every quarter pays the same amount. On ₹15,00,000 the payout is ₹30,750 in the first quarter and ₹30,750 in the twentieth — ₹1,23,000 a year, ₹6,15,000 over 5 years, and your deposit back in full.
A quarterly review changes the rate only for new accounts. At 7% instead of 8.2%, ₹15,00,000 would pay ₹1,05,000 a year instead of ₹1,23,000 — ₹18,000 less a year. Try a different rate to see what a change would do.
The interest is taxable every year, but under the old regime the deposit counts towards the ₹1.5 lakh 80C limit, and a senior citizen can deduct up to ₹50,000 of deposit interest under 80TTB. TDS of 10% applies only once the year's interest crosses ₹1 lakh.
How it works
Enter your deposit first — the rate is already filled in with the current 8.2% — then pick the tenure and read the payout every quarter, the income for the year and the total interest over the term.
From ₹1,000, in multiples of ₹1,000, up to ₹30 lakh per person across all SCSS accounts — the example uses ₹15,00,000, the old ceiling and a common retirement corpus. It is a single lump sum, paid once when you open the account.
8.2% is the rate notified for October to December 2026. It has been 8.2% since 1 April 2023 and is reviewed every quarter — the rate on the day you open the account is fixed for 5 years.
5 years, or 8 years — 5 years plus one 3-year extension. An extended block earns the rate in force on the maturity date, which may be higher or lower than 8.2%, so treat the 8-year total as a projection at today's rate.
The answer appears as you type — the payout every quarter, the income for the year, the monthly average, the total interest over the term, how many quarterly payouts that is, and the year your deposit comes back.
The calculation, explained
Each quarter pays one quarter of a year's interest on your original deposit, rounded to the nearest rupee — quarterly payout = deposit × rate ÷ 100 ÷ 4. The annual income is the quarterly payout × 4, the monthly average is the annual income ÷ 12 rounded to the nearest rupee, and the total interest is the annual income × the number of years. Nothing compounds: the interest is paid out, never added to the principal, and the deposit is returned in full at maturity. The rate is the notified rate for October to December 2026, 8.2%, and the projection holds it steady for the term — in reality it is reviewed every quarter, but the rate on the day you open the account is fixed for 5 years.
Worked examples
One example for each everyday case, including one at the maximum deposit and one at the minimum. Select any example to load it into the calculator and check the working for yourself.
₹15,00,000 for 5 years at 8.2%. You receive ₹30,750 every quarter — ₹1,23,000 a year, about ₹10,250 a month on average. Over 5 years the interest adds to ₹6,15,000, and your ₹15,00,000 comes back in full at maturity.
₹15,00,000 at 8.2% → ₹30,750 a quarter
The maximum deposit, ₹30,00,000 for 5 years at 8.2%. You receive ₹61,500 every quarter — ₹2,46,000 a year, about ₹20,500 a month on average. Over 5 years the interest adds to ₹12,30,000, and your ₹30,00,000 comes back in full at maturity.
₹30,00,000 at 8.2% → ₹61,500 a quarter
₹10,00,000 for 5 years at 8.2%. You receive ₹20,500 every quarter — ₹82,000 a year. Over 5 years the interest adds to ₹4,10,000, and your ₹10,00,000 comes back in full at maturity. The year's interest stays under the ₹1 lakh TDS threshold.
₹10,00,000 at 8.2% → ₹20,500 a quarter
₹5,00,000 for 5 years at 8.2%. You receive ₹10,250 every quarter — ₹41,000 a year. Over 5 years the interest adds to ₹2,05,000, and your ₹5,00,000 comes back in full at maturity.
₹5,00,000 at 8.2% → ₹10,250 a quarter
The smallest deposit the scheme allows — ₹1,000 for 5 years at 8.2%. The exact quarterly interest is ₹20.50, which rounds to ₹21 a quarter, so the year works out at ₹84 and the 5-year total at ₹420. A reminder that the calculator rounds each quarterly payout to the nearest rupee.
₹1,000 at 8.2% → ₹21 a quarter
SCSS rules at a glance
The current rate, the deposit limits, the 5-year tenure and the repeatable 3-year extension, how the interest is paid, the rate lock, who can open an account, the early-closure penalties and the tax on the interest. Every rule here comes from the Senior Citizens' Savings Scheme, 2019 as amended, the Department of Posts or the Ministry of Finance — never from a blog or a competitor.
| Figure | Rule | What it means |
|---|---|---|
| 8.2% a year (Oct–Dec 2026) | Current notified rate | The rate for 1 October to 31 December 2026, notified by the Ministry of Finance on 30 September 2026. It has been 8.2% since 1 April 2023 and is reviewed every quarter — the next review is due around 31 December 2026. |
| ₹1,000 minimum, ₹30 lakh maximum | Deposit limits | At least ₹1,000 to open, in multiples of ₹1,000, up to ₹30 lakh per person across all SCSS accounts. The ₹30 lakh ceiling was raised from ₹15 lakh by Budget 2023. A retired couple can each hold ₹30 lakh, so ₹60 lakh between them. |
| 5 years, then 3-year blocks | Tenure and extension | The account runs for 5 years. On maturity you can extend it in blocks of 3 years, as many times as you like — the 2023 amendment removed the old once-only limit. Apply in Form-4 within one year of maturity or of the end of each block; the extended block earns the rate in force on the maturity date. |
| Simple interest, paid quarterly | How interest works | Interest is worked out on your original deposit and paid out every quarter — on the first working day of April, July, October and January — never added to the principal, so it never compounds. The first payment covers only the days from your deposit to the end of that quarter. |
| Rate locked at opening | Rate lock | A quarterly review changes the rate only for accounts opened after it takes effect. An account you already hold keeps its opening rate for the full 5 years. An extended account earns the rate in force on the maturity date, which may be higher or lower. |
| 60 years, or 55–60 retired, or 50+ defence | Who can open | Anyone 60 or over; anyone 55 to 60 who has retired on superannuation or otherwise, if the account is opened within three months of receiving the retirement benefits and the deposit is no more than those benefits; retired defence personnel (not civilian defence staff) from 50. NRIs and HUFs cannot open an account. |
| Early closure costs 1–1.5% | Premature closure | Before 1 year, no interest is payable and any interest already paid is recovered from the deposit. After 1 year but before 2 years, 1.5% of the deposit is deducted; after 2 years, 1%. An extended account closed within 1 year of the extension loses 1%; after that year it can be closed with no deduction. On the holder's death there is no penalty. |
| Interest taxable; TDS above ₹1 lakh | Tax | The interest is fully taxable at your slab rate every year, in both tax regimes. TDS of 10% (with PAN) applies once the year's interest crosses ₹1 lakh for a senior citizen — the threshold rose from ₹50,000 on 1 April 2025. Under the old regime the deposit counts towards the ₹1.5 lakh 80C limit and a senior citizen can deduct up to ₹50,000 of deposit interest under 80TTB. |
| Reviewed every quarter | Rate reviews | Small savings rates are set by the Ministry of Finance every quarter. The rate for October to December 2026 was kept unchanged in the office memorandum of 30 September 2026; the next review is due around 31 December 2026 for January to March 2027. |
The rules are fixed — a 5-year term, simple interest paid out every quarter and the rate locked at opening. The two judgement calls are the rate you assume and whether you extend, and this page states both plainly: 8.2% is today's notified rate, not a promise for the next account you open, and an extended block earns the rate in force on the maturity date.
Common mistakes
SCSS is simple on the surface — one deposit, the same payout every quarter — but the payout timing, the extension rate and the tax catch people out.
Interest is paid on the first working day of April, July, October and January. The ₹10,250 a month on ₹15,00,000 is an average, not a credit — the money arrives as ₹30,750 every three months. If you need money every month, the Post Office Monthly Income Scheme pays monthly instead.
SCSS interest is simple: it is always worked out on your original deposit and paid out, never added to the principal. On ₹15,00,000 the twentieth payout is ₹30,750, exactly like the first — anyone promising a growing payout is describing a different product.
An extended account earns the rate in force on the maturity date, which may be higher or lower than 8.2%. The 8-year total of ₹9,84,000 on ₹15,00,000 assumes the rate holds — check the notified rate when the extension falls due.
SCSS interest is taxable at your slab rate in the year it is paid, and TDS of 10% applies once the year's interest crosses ₹1 lakh for a senior citizen. On ₹30,00,000 about ₹24,600 a year is deducted — give the bank or post office the nil-tax declaration if your total tax for the year will be nil. And do not plan on closing early without counting the 1–1.5% penalty.
Your questions, answered
The Senior Citizens Savings Scheme is a 5-year government deposit for senior citizens, run through post offices and authorised banks. You deposit a lump sum — at least ₹1,000, in multiples of ₹1,000, up to ₹30 lakh per person — and the scheme pays 8.2% a year for October to December 2026 as simple interest, every quarter. The interest is paid out to your savings account and your deposit comes back in full at maturity. It is the highest rate among the small savings schemes, shared only with Sukanya Samriddhi.
8.2% a year, paid quarterly, for 1 October to 31 December 2026 (the third quarter of FY 2026-27). The Ministry of Finance kept small-savings rates unchanged in its office memorandum of 30 September 2026, and SCSS has paid 8.2% since 1 April 2023. The rate is reviewed every quarter, so the next review is due around 31 December 2026 — and the rate on the day you open the account is fixed for 5 years.
Quarterly payout = deposit × rate ÷ 100 ÷ 4. At 8.2%, ₹15,00,000 × 8.2% ÷ 4 = ₹30,750 every quarter, and ₹30,00,000 × 8.2% ÷ 4 = ₹61,500. The interest is simple: it is always worked out on your original deposit, so every quarter pays the same amount, and the total over 5 years is the quarterly payout × 20.
₹30,750 every quarter at 8.2% — ₹1,23,000 a year, about ₹10,250 a month on average. Over 5 years the interest adds to ₹6,15,000, and your ₹15,00,000 comes back in full at maturity. On the maximum ₹30,00,000 it is ₹61,500 a quarter, ₹2,46,000 a year and ₹12,30,000 over 5 years.
Anyone 60 or over; anyone 55 to 60 who has retired on superannuation or otherwise, if the account is opened within three months of receiving the retirement benefits and the deposit is no more than those benefits; and retired defence personnel (not civilian defence staff) from 50. The spouse of a government employee who died in harness can also open one, under the same conditions. You open it at a post office or an authorised bank, jointly only with your spouse, and you can nominate someone. NRIs and HUFs cannot open an account.
Yes — in blocks of 3 years, as many times as you like. The 2023 amendment removed the old once-only limit, so a 5-year account can run for 8 years, then 11, then 14, and so on. Apply in Form-4 within one year of maturity or of the end of each block. The extended block earns the rate in force on the maturity date, not the rate you opened at — so at today's 8.2%, ₹15,00,000 extended for 3 more years would earn another ₹3,69,000, taking the 8-year total to ₹9,84,000. If you do not extend, the balance earns only the Post Office Savings Account rate, 4% at present.
Yes, but it costs you. Before 1 year, no interest is payable and any interest already paid is recovered from your deposit. After 1 year but before 2 years, 1.5% of the deposit is deducted — ₹22,500 on ₹15,00,000. After 2 years, 1% is deducted — ₹15,000 on ₹15,00,000. An extended account closed within 1 year of the extension loses 1%; after that year it can be closed with no deduction. On the holder's death there is no penalty, and a surviving spouse who is a joint holder or sole nominee can continue the account. You cannot take out part of the money — closure is all or nothing.
Yes — the interest is fully taxable at your slab rate every year, in both tax regimes, even though it arrives quarterly. TDS of 10% (with PAN; 20% without) is deducted once the year's interest crosses ₹1 lakh for a senior citizen — the threshold rose from ₹50,000 on 1 April 2025. At 8.2%, a deposit of ₹12,19,000 or less stays under it (₹99,960 a year); on ₹30,00,000 about ₹24,600 a year is deducted. If your total tax for the year will be nil, give the bank or post office the nil-tax declaration (Form 121 from 1 April 2026, which replaced Forms 15G and 15H) so no TDS is deducted. Under the old regime the deposit counts towards the ₹1.5 lakh 80C limit and a senior citizen can deduct up to ₹50,000 of deposit interest under 80TTB. The Income-tax Act, 2025, in force from 1 April 2026, renumbered the Act's provisions — the old-regime deduction this page calls Section 80C is carried in Schedule XV of the new Act, and the ₹1.5 lakh limit is unchanged.
No. Every calculation runs entirely on this page — nothing is sent to a server, nothing is stored, and reloading the page clears your recent checks.
This page uses the standard SCSS-calculator method: each quarter pays one quarter of a year's interest on your original deposit, rounded to the nearest rupee, and the interest is paid out, never added to the principal. The annual income is the quarterly payout × 4, the monthly average is the annual income ÷ 12 rounded to the nearest rupee, and the total interest is the annual income × the number of years. The rate is user-entered and treated as a steady assumption — never as a live quote or a promise for an account opened later.
Figures checked 12 November 2026: the 8.2% rate for 1 October to 31 December 2026 is in the Ministry of Finance (Department of Economic Affairs) Office Memorandum F.No.1/4/2019-NS, dated 30 September 2026, keeping small savings rates unchanged for the third quarter of FY 2026-27, as carried by the Department of Posts in SB Order 12/2026 of the same date — see the National Savings Institute. The deposit limits, the 5-year tenure, the repeatable 3-year extension and the early-closure penalties are in the Senior Citizens' Savings Scheme, 2019, as amended by G.S.R. 829(E) of 7 November 2023 (Department of Posts SB Order 22/2023 of 14 November 2023), and the scheme rules are on India Post's savings schemes page. The tax treatment — the interest taxable as it is paid, TDS above the senior-citizen threshold, the deposit counting towards the old-regime ₹1.5 lakh limit and the ₹50,000 senior-citizen interest deduction — is in the Income-tax Act; the Income-tax Act, 2025, in force from 1 April 2026, renumbered the Act's provisions, and the old-regime deduction this page calls Section 80C is carried in Schedule XV of the new Act — see the Income Tax Department. The worked examples reproduce the ranking SCSS calculators' published figures: ₹30,00,000 at 8.2% gives ₹61,500 a quarter on credocalc.com, ₹15,00,000 gives ₹30,750 a quarter on freecalculator.cloud, and the same 5-year and 8-year totals are published by commerceinsights.co.in. Two claims are deliberately NOT used: fintra.co.in's guide says the SCSS rate is compounded quarterly, but SCSS interest is simple — it never compounds; and commerceinsights.co.in and globalcalqulate.com both say the account is extendable once, but the 2023 amendment removed the once-only limit, so the account can now be extended in 3-year blocks as many times as the holder likes. One honest limit: the first quarterly payment covers only the days from your deposit to the end of that quarter, so it is smaller than the full ₹30,750 on ₹15,00,000; this calculator shows the full-quarter payout. For a lump sum that compounds instead, use the FD calculator; for a tax-free comparison, the PPF calculator; for a daughter's future, the SSY calculator; for the tax on your deposits, the income-tax calculator; for a monthly payout, the Post Office Monthly Income Scheme is the comparison to make — there is no MIS calculator on this site yet.
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