Financial Calculators
SCSS Calculator
Government-backed quarterly income for retirees. See exactly what your SCSS deposit pays.
Quarterly payout
₹61,500
credited every quarter for 5 years
- Yearly income
- ₹2,46,000
- Total interest over 5 years
- ₹12,30,000
SCSS pays simple interest quarterly over its 5-year term (extendable). The rate is notified quarterly and locks at investment; the deposit ceiling is per individual. Interest is taxable at slab rate.
The retiree's dependable base
The Senior Citizens' Savings Scheme pays interest every quarter at one of the highest notified small-savings rates, with sovereign backing and a five-year term extendable further. Eligibility begins at 60, with earlier eligibility for retired defence personnel under conditions, and retirement proceeds can be deployed into it within the prescribed window.
Interest is paid out rather than reinvested, which makes budgeting simple and also means the payout never grows. The rate is notified quarterly and locks at investment; enter the current rate above.
How the calculation works
Quarterly payout = Deposit x rate / 100 / 4\nSimple-interest payouts over the 5-year term; principal returned at maturityWorked example: the maximum deposit of Rs 30,00,000 at 8.2% pays Rs 61,500 every quarter, Rs 2,46,000 a year, and Rs 12,30,000 of total interest over the five-year term.
Frequently asked questions
Who can invest in SCSS?
Individuals aged 60 and above, with relaxed age conditions for those taking retirement earlier, including retired defence personnel, subject to scheme rules on timing and source of funds.
Is SCSS interest taxable?
Yes, fully at slab rate, with TDS beyond thresholds. The deposit itself qualifies under Section 80C within the overall limit.
What happens after five years?
The account can be extended as permitted by the rules, at the rate prevailing at extension, or closed with the principal returned.
Is SCSS alone enough for retirement?
Rarely. The ceiling caps the income and the payout is flat while expenses inflate. We pair SCSS with a growth sleeve and SWP so the plan survives twenty-five years, not just five.
Build the base, then the growth.
SCSS anchors the income; mutual funds protect the later years. We structure the pair.