Smart SCSS Calculator
Secure a steady retirement income. Calculate your Quarterly Interest Payout and Total Interest earned on your Senior Citizen Savings Scheme investment.
Quarterly Pay
Regular income source
High Safety
Sovereign Guarantee
High Rates
Better than Bank FDs
Tax Saver
Deduction u/s 80C
What is an SCSS Calculator?
A tool designed for retirees to calculate the quarterly interest payout they will receive on their lumpsum investment in the Senior Citizen Savings Scheme.
Your Retirement Income Planner
The Senior Citizen Savings Scheme (SCSS) is a government-backed retirement benefits program. Residents of India aged 60 years or above can invest a lump sum amount (up to ₹30 Lakhs) to earn regular quarterly interest income for a tenure of 5 years.
Regular Payouts
Interest is payable quarterly (31st March, 30th June, 30th Sept, 31st Dec). It does not compound.
Investment Limit
Minimum investment is ₹1,000 and maximum is ₹30 Lakhs (revised in Budget 2023).
Tax Rules
Investment qualifies for deduction u/s 80C. Interest earned is fully taxable. TDS applies if interest > ₹50,000/year.
5 Year Tenure
The scheme matures in 5 years. You can extend it once for a block of 3 more years.
High Returns
SCSS typically offers one of the highest interest rates (approx 8.2%) compared to regular FDs.
Payout Schedule
Get a clear breakdown of your quarterly interest payments and the total interest you will earn over 5 years.
Why Choose Our SCSS Calculator?
Quarterly Focus
We prioritize showing the "Quarterly Payout" amount, which is the most critical figure for retirees planning their monthly budget.
Non-Compounding Logic
Many generic calculators wrongly apply compounding. We use the correct simple interest payout logic used by Post Offices.
Visual Returns
See exactly how much money you earn in interest versus your principal investment through our intuitive charts.
SCSS Calculator
Calculate Quarterly Interest & Total Income.
Min ₹1000, Max ₹30 Lakhs.
Current SCSS Rate (Annual).
How to Use the SCSS Calculator
Three easy steps to plan your post-retirement income.
Enter Investment
Enter the lump sum amount you wish to invest. You can invest up to ₹30 Lakhs (can be split across multiple accounts/spouse).
Verify Rate
The interest rate is fixed at the time of account opening for the entire 5-year tenure. The current rate is around 8.2%.
View Income
Click 'Calculate Income' to see exactly how much money will be credited to your savings account every quarter.
Decoding SCSS Rules
Understand the terminology before you invest.
| Term | Definition | Impact |
|---|---|---|
| Quarterly Payout | Interest is paid every 3 months. | Provides regular cash flow. |
| Section 80C | Tax deduction up to ₹1.5L. | Investment amount is deductible. |
| TDS | Tax Deducted at Source. | Deducted if interest exceeds ₹50,000/year. |
| Extension | Increasing tenure beyond 5 years. | Can extend for 3 years at prevailing rates. |
Why Choose SCSS?
SCSS is the gold standard for safe retirement income in India.
Tax Benefits
The principal amount invested in SCSS qualifies for a tax deduction under Section 80C of the Income Tax Act (up to ₹1.5 Lakhs per financial year).
Sovereign Safety
Being a government-backed scheme, your capital is completely safe. Unlike corporate FDs or mutual funds, there is zero credit risk involved.
SCSS vs Bank FD vs POMIS
How does SCSS compare to other fixed income options for seniors?
SCSS
Best for seniors seeking highest interest with tax benefits.
Bank FD
Best for flexibility and short-term parking of funds.
Who Should Use SCSS Calculator?
Identify if SCSS fits your retirement portfolio.
Retirees (60+ Years)
Individuals over 60 years who have a lump sum retirement corpus (Gratuity, PF) and want a safe, regular income stream.
VRS Retirees (55-60 Years)
Employees who have taken Voluntary Retirement Scheme (VRS) or Superannuation can invest if they open the account within 1 month of receiving benefits.
SCSS Example Scenario
See the income generated by investing the maximum limit.
Investing ₹30 Lakhs
Target: Maximize Monthly/Quarterly Income
Result: By investing the max limit of ₹30L, you can generate a monthly equivalent income of ₹20,500 for 5 years.
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Frequently Asked Questions
Common queries about SCSS.
Is TDS applicable on SCSS?
Yes. Tax Deducted at Source (TDS) is applicable if the interest earned exceeds ₹50,000 in a financial year. However, you can submit Form 15H to the bank/post office if your total income is below the taxable limit.
Can I withdraw before 5 years?
Yes, premature closure is allowed. If closed before 1 year, no interest is paid. After 1 year but before 2 years, 1.5% of principal is deducted. After 2 years, 1% of principal is deducted.
Can both husband and wife invest?
Yes, both husband and wife (if eligible by age) can open separate individual accounts and invest up to ₹30 Lakhs each, allowing a family to invest ₹60 Lakhs in total.