SCSS Calculator
Estimate regular quarterly interest, check how much deposit a target income needs, and see what a shorter first quarter could pay. Keep the capital returned at maturity separate from interest paid along the way.
Deposit & payout plan
Set your deposit or quarterly income target
Gross amounts before TDS and income tax. This tool checks deposit arithmetic, not account-opening eligibility.
Capital and model cash flow
- Unrounded quarterly formula
- 20-full-quarter interest
- Capital returned at maturity*
- 12-quarter extension interest*
- Total model interest payouts*
- Capital + model payouts*
First-quarter estimate
Separate from the full-quarter ledger; confirm the recorded value date, credit working day and TDS with the account office.
Calculation notes
*Full-quarter planning illustration, not a maturity-balance quote or account statement. Interest is paid out, not compounded in SCSS. Taxes, partial final periods, premature closure and reinvestment outside SCSS are not included.
Capital stays separate from paid interest.
The line shows cumulative gross interest in the full-quarter model. The dashed line is the unchanged deposit. It is not a compounding balance chart.
Year-by-year full-quarter illustration
| Model year | Annual rate | Gross payout | Cumulative payouts | Capital |
|---|
Show quarterly model payouts
| Model quarter | Stage | Annual rate | Gross interest | Cumulative payouts |
|---|
Scheme fit comes first
Check the account rules before planning the income.
SCSS is a Government of India small-savings scheme for eligible residents. Its payment structure supports periodic income, but eligibility and liquidity conditions still matter.
Rate check for October–December 2026
The October–December 2026 reference input is 8.2% per annum, as listed in Indian Bank’s small-savings table citing the Ministry of Finance memorandum dated 30 September 2026. A later quarterly notification does not automatically reset an existing initial-term account’s rate.
India Post scheme listing · Authorised-bank quarter table. Reviewed on 14 October 2026; this page has no live-rate feed.
| Situation | Check before opening | What this means for planning |
|---|---|---|
| Age 60 or above | Age on opening date and scheme residency requirements | Use your own aggregate deposit limit; age alone is not a substitute for account documents |
| Retired civilian, age 55 to below 60 | Qualifying retirement; three-month window after benefits receipt; required evidence | The permitted deposit is also subject to the applicable retirement-benefits restriction |
| Retired Defence personnel, age 50 or above | Special conditions apply; civilian Defence employees are excluded from this special route | Verify eligibility, retirement-benefit documents and the opening window with the office |
| Spouse of a government employee who died in harness | 2023 amendment addresses qualifying employees who attained 50; other conditions and proof apply | This is a specific scheme route, not universal eligibility for all legal heirs |
| Joint account with spouse | First holder determines account eligibility; deposit attributed wholly to the first holder | One joint account does not double that holder’s limit |
Read the original scheme together with the 2023 amendment. Some bank summaries still show the earlier one-month window or one-time extension. The Department of Posts order with the amendment scan is a primary government-authored document hosted as a copy by FNPO.
Deposit planning
A ₹30 lakh cap belongs to the depositor.
Use the amount already attributed to the same first holder across SCSS accounts before planning a new account.
One deposit per account
A deposit begins at ₹1,000 and uses ₹1,000 multiples. This tool’s new deposit represents a separate opening deposit, not permission to top up an existing account.
Aggregate headroom
Subtract existing attributed SCSS deposits from ₹30 lakh. Multiple accounts do not create a fresh ₹30 lakh cap for each account.
Separate eligible spouses
Each spouse must qualify independently for their own first-holder accounts. A household illustration must keep the ownership, eligibility and individual limits separate.
Headroom in this calculator considers the standard aggregate cap only. A younger retiree’s applicable benefits limit or other eligibility conditions may reduce what can actually be deposited.
Income arithmetic
Quarterly payout, not a growing maturity balance.
Let P be deposit principal and R the annual percentage rate. SCSS interest is paid out; a payout does not increase P.
Model regular payout = nearest whole rupee
Monthly budget equivalent = model regular payout ÷ 3
20-full-quarter interest illustration = model regular payout × 20
Rupee rounding matters
The scheme rounds interest to a rupee, with 50 paise or more rounded upward. At ₹1,000 and 8.2%, the unrounded regular quarter is ₹20.50 and the rounded illustration is ₹21.
The ledger sums rounded payouts. It should not be presented as the exact dated five-year account total.
A shorter first quarter
First-period estimate = unrounded regular-quarter interest × covered days ÷ days in that calendar quarter, then round to a rupee. The date-based box uses deposit day through quarter-end inclusive.
Payable dates are the first working day of April, July, October or January, as applicable. Quarter-end and actual bank-credit date are different.
Four reproducible examples
Compare income, deposit headroom and timing
Load an illustration to calculate its result and move to the calculator. Amounts are gross and exclude tax; opening dates do not turn the full-quarter ledger into an account statement.
Example 01
₹30 lakh at the reference rate
Four full quarters give ₹2,46,000; 20 give ₹12,30,000 in model payouts. Capital stays separate.
Example 02
A ₹50,000 quarterly income target
At 8.2%, the unrounded target formula rounds the deposit up to ₹1,000 steps. The model quarter is ₹50,020, subject to available headroom.
Example 03
Opening on 12 October 2026
81 inclusive days out of the 92-day October–December quarter: ₹61,500 × 81 ÷ 92. This estimate is separate from the ledger.
Example 04
A separate extension-rate assumption
₹10 lakh at 8.2% for 20 model quarters, then an assumed 7.5% for 12: ₹6,35,000 total model interest. The extension rate is hypothetical.
Use the calculator
Build a gross-income estimate in three steps.
Set the deposit or target
Enter a new-account deposit or a whole-rupee quarterly target. Add other SCSS deposits attributed to you so the cap check reflects your situation.
Choose the right rate
Use the reviewed reference, your existing account’s opening rate or an explicitly hypothetical rate. Add an optional opening date for the first-period estimate.
Review the assumptions
Read the gross quarter, monthly equivalent and unchanged capital. If you add an extension block, enter its own assumed rate. Download the model to discuss with your account office.
After the initial five years
Extensions use their own rate and application rules.
The 2023 amendment replaced the earlier one-time extension restriction with repeat three-year blocks. An illustration is different from applying for an extension.
Apply for each block
The amended scheme provides an application window of one year from maturity or the end of each three-year block. The effective extension is linked to maturity or extended maturity.
The tool models only one optional block to keep the initial and assumed-rate income visible. This is a model limit, not a one-extension scheme limit.
Confirm the extension rate
The applicable scheme rate at maturity or extended maturity governs the extension. The calculator cannot know a future notified rate.
For an existing extension, enter its actual applicable rate when reviewing your records. For future planning, treat the extension-rate field as an assumption.
Source: Department of Posts SB Order 22/2023 and G.S.R. 829(E) scan (government-authored copy hosted by FNPO).
Tax-year 2026 context
Keep interest tax, deposit deductions and TDS separate.
The calculator shows gross interest. It does not determine tax liability, an eligible deduction or a branch’s actual withholding.
| Question | Review point | Source |
|---|---|---|
| Is interest automatically tax-free? | No. Consider SCSS interest in the income-tax computation; no TDS does not itself make it exempt. | Applicable income-tax provisions and your total-income calculation |
| What is the interest TDS threshold? | Section 393’s resident-interest table specifies ₹1,00,000 for a senior citizen and ₹50,000 for a person other than a senior citizen, for the specified payers. | Income-tax Act, 2025 · section 393(1), table 5(ii) |
| Is the deposit deductible? | Review eligible payments under section 123 and Schedule XV, with the shared ₹1.5 lakh limit and applicable conditions. This is not a deduction of the full ₹30 lakh deposit. | Section 123; tax regime restrictions in section 202 |
| What about the new tax regime? | The section 123 payment deduction is not available under the section 202 new regime. Do not label SCSS as an automatic tax-saving choice for every taxpayer. | Section 202(2) |
| Which no-TDS declaration should I check? | Current Form 121 under rule 211 / section 393(6). Estimated tax must be nil and the applicable declaration conditions must be met. | Income Tax Department · official Form 121 |
Sources: section 393, section 123, section 202 and Form 121. Earlier tax periods may use different references. Do not use this gross-income model to calculate TDS eligibility from one account alone.
Liquidity check
Premature closure changes the settlement.
Keep an accessible reserve for expenses you may need before maturity. The tool’s payout ledger assumes continuation, not early closure.
| Closure timing | Standard treatment to verify |
|---|---|
| Initial term: before one year | Interest already paid is recovered from the deposit |
| Initial term: after one year, before two years | Deduction of 1.5% of the deposit |
| Initial term: on or after two years, before maturity | Deduction of 1% of the deposit |
| Extended term: before one year from extension | 2023 amendment specifies deduction of 1% of the deposit |
| Extended term: after expiry of one year | Closure without the standard premature-closure deduction, subject to the scheme |
Actual closure requires the scheme procedure, relevant dates, interest reconciliation and any tax review. Nominee/death cases or account continuation by a spouse need separate verification. Read paragraph 6 of the original scheme together with the later amendment.
Compare payment structure
SCSS, a bank FD and Post Office MIS answer different needs.
Compare the actual product terms and tax outcome rather than assuming a universal “highest return” ranking.
SCSS
Quarterly interest, scheme-specific eligibility, an aggregate depositor cap and an initial five-year term. Plan how quarterly receipts will cover monthly expenses.
Bank fixed deposit
Rate, term, payout choice and premature-withdrawal terms depend on the bank and product. Use the offered rate and the correct payout or compounding mode when comparing.
Post Office MIS
A separate monthly-payout scheme with its own deposit and account rules. Check its current notification and limits before comparing the monthly cash-flow pattern.
Use the result in a budget
Plan between quarterly receipts.
Three months of spending
For a regular ₹61,500 quarterly receipt, dividing it by three gives ₹20,500 for each month’s budget before tax. This is a spending allocation, not a second SCSS interest schedule.
Check the smaller first receipt and the opening date before relying on the regular-quarter amount for immediate bills.
Capital and purchasing power
The deposit is not automatically available for day-to-day withdrawals. Inflation can also reduce what a fixed nominal payout buys over time.
SCSS is government-backed; that does not remove liquidity, tax, inflation or documentation risks. Avoid treating it as an all-purpose retirement plan.
Questions about the tool
SCSS calculator FAQs
Is the monthly equivalent a monthly SCSS payment?
No. It is the regular quarterly amount divided by three for budgeting. SCSS pays quarterly. Set aside part of each receipt if you want to spread it over three months; that transfer is separate from the scheme.
Why can my first interest payment be smaller?
An account opened after a calendar quarter begins has a shorter first interest period. The separate date-based estimate uses the number of covered days divided by the days in that quarter. The full-quarter ledger does not replace that first-period calculation.
Is the five-year total an exact account statement?
No. It is a 20-full-quarter illustration at the entered fixed initial rate, with each payout rounded to a rupee. Actual opening and maturity dates create partial periods, and tax withholding or closure can change credits. The calculator does not reconstruct the final dated settlement.
Does SCSS compound the quarterly interest?
The interest is paid out. Unclaimed SCSS interest does not itself earn additional scheme interest. If you invest a payout elsewhere, that separate investment needs its own assumptions and calculation.
Can I add a deposit to an existing SCSS account?
The scheme provides for one deposit per account. A further investment normally requires another account subject to eligibility and the overall per-depositor limit. This tool’s new-deposit amount is not a top-up instruction for an existing account.
Can a joint account double the ₹30 lakh limit?
No. The whole joint-account deposit is attributed to the first holder. Separate eligible spouses may each use their own limit, but holding one joint account does not give its first holder a ₹60 lakh cap.
What if the target requires more than my available limit?
The tool shows the rounded-up required deposit and separately caps the illustrated new deposit at the entered available headroom. It marks the target as outside that headroom. Eligibility and retirement-benefit conditions can impose a lower limit still.
Will the current rate continue after an extension?
Do not assume so. The extension rate is linked to the applicable rate at maturity or extended maturity under the amended scheme. The optional three-year block uses only your entered future-rate assumption; it is not a forecast or an extension approval.
Does crossing the TDS threshold determine my final tax?
No. TDS is withholding. Your tax outcome depends on total income, the applicable tax year, regime and deductions. Even where no TDS is deducted, taxable interest still needs to be considered in the return.
Should I still use Form 15H in 2026?
For the current Income-tax Rules, 2026 framework, check Form 121 with the payer. Its official declaration tests estimated tax and other conditions; age alone does not justify a no-TDS declaration. Earlier-period forms and compliance should be checked separately.
Are opening-date calculations guaranteed to match the branch credit?
No. The first-period estimate uses inclusive calendar days and nearest-rupee rounding from the scheme formula. The branch must confirm its recorded value date, working-day credit date and any tax withholding.
Are my deposit details uploaded or stored by this calculator?
This script calculates in the browser and makes reports only when you request a download. It does not send the entered amounts or use browser storage. Google Fonts load externally, and the WordPress website may separately use analytics or other plugins.
Verify the assumptions
Official references & related calculators
Use the sources for rule checks and the related tools for separate retirement calculations.
Scheme and tax sources
National Savings Institute: SCSS overviewGovernment overview · ₹1,000 minimum and ₹30 lakh cap India Post: saving schemesGovernment scheme listing · SCSS reference rate 8.2% Indian Bank: October–December 2026 ratesAuthorised-bank rate table · cites DEA OM dated 30 September 2026 SCSS original scheme: G.S.R. 916(E)Government-hosted Gazette copy · read with later amendments 2023 amendment: G.S.R. 829(E)Official Gazette link · eligibility and extension amendments Department of Posts: SB Order 22/2023Official order and Gazette scan · copy hosted by FNPO Income-tax Act, 2025: section 393Interest TDS threshold and declaration provisions Income Tax Department: Form 121Current declaration under section 393(6) · rule 211 Income-tax Act, 2025: section 123Shared eligible-payment deduction limit · read with Schedule XV Income-tax Act, 2025: section 202New-regime restrictions on deductionsThe original 2019 document has historical rates and limits; apply later amendments. If the Gazette link is temporarily unavailable, the Department of Posts order includes the amendment scan. The FNPO copy is labelled as a mirror, not a government website.
Related tools
Rates and notes reviewed on 14 October 2026. Confirm account terms, eligibility and tax-year rules with the post office or authorised bank before opening or extending.
Have your deposit and account rate?
Return to the tool to compare the gross quarter with the income your budget needs.
Review my SCSS income