Senior Citizens’ Savings Scheme (SCSS) calculator
The Senior Citizens’ Savings Scheme pays 8.2% a year, out to you every quarter, on up to ₹30 lakh for 5 years. Enter your deposit to see what each payment will be.
Rules for FY 2026-27 · Checked 24 October 2026
About ₹10,250 a month, paid on 1 April, 1 July, 1 October and 1 January.
- You get ₹1,23,000 a year and ₹6,15,000 over 5 years, then your ₹15,00,000 back.
- Extend for 3 more years and you get about ₹3,69,000 more, at the rate in force when the account matures.
- Interest is paid out, not added to the deposit, so it does not compound.
- Deposit returned₹15,00,000
- Interest over 5 years₹6,15,000
- Interest each quarter
- ₹30,750
- Interest each year
- ₹1,23,000
- Interest over 5 years
- ₹6,15,000
- Total received
- ₹21,15,000
SCSS interest is taxed at your slab rate. The post office deducts 10% TDS once a year's interest passes ₹1 lakh (₹50,000 if you are under 60). The deposit counts for 80C in the old regime.
Year-by-year table
| Year | Interest that year | Interest so far |
|---|---|---|
| 1 | ₹1,23,000 | ₹1,23,000 |
| 2 | ₹1,23,000 | ₹2,46,000 |
| 3 | ₹1,23,000 | ₹3,69,000 |
| 4 | ₹1,23,000 | ₹4,92,000 |
| 5 | ₹1,23,000 | ₹6,15,000 |
How SCSS pays you
Interest is paid every quarter, on 1 April, 1 July, 1 October and 1 January, straight into your post office savings or bank account. It is not added to the deposit, so it does not compound. The rate on the day you open the account stays for the full 5 years.
The full ₹30 lakh at 8.2% pays ₹61,500 a quarter, or ₹2,46,000 a year: ₹12,30,000 over 5 years, after which the deposit comes back. ₹15 lakh pays ₹30,750 a quarter.
Who can open an account
- Anyone aged 60 or over on the day the account is opened.
- A civilian employee who retired at 55 or over but under 60, if the account is opened within 3 months of receiving the retirement benefits (PF, gratuity, commuted pension, leave encashment and similar).
- Non-resident Indians cannot open one.
- Deposit ₹1,000 to ₹30 lakh, in multiples of ₹1,000. The ₹30 lakh limit covers all your SCSS accounts together. Above ₹1 lakh, pay by cheque or transfer rather than cash.
- Open it alone or jointly with your spouse, at any post office or at banks that offer it.
Extending and closing early
The account matures after 5 years. You can extend it in blocks of 3 years, as many times as you like, by applying within a year of maturity. The extension earns the rate in force on the maturity date. At today's rate, a 3-year extension of ₹30 lakh adds ₹7,38,000 of interest.
| Closed | What you lose |
|---|---|
| Before 1 year | All interest paid so far is taken back from the deposit |
| After 1 year, before 2 | 1.5% of the deposit |
| After 2 years, before 5 | 1% of the deposit |
| Within 1 year of an extension | 1% of the deposit |
If the account holder dies, the account is closed and paid to the nominee without these deductions.
How SCSS is taxed
- The deposit counts towards the ₹1.5 lakh 80C deduction in the old regime. The new regime has no 80C.
- Interest is added to your income and taxed at your slab rate.
- The post office deducts 10% TDS once a year’s interest passes ₹1 lakh for those 60 or over (₹50,000 for younger depositors).
Compare it with a post office MIS, which pays monthly at 7.4%, or a bank FD, where senior citizens usually get a little extra.
Frequently asked questions
What is the SCSS interest rate now?
8.2% a year for October to December 2026, paid quarterly. The government reviews it every quarter, but your account keeps the rate it opened with for 5 years.
How much can I invest in SCSS?
Up to ₹30 lakh per person across all your SCSS accounts, in multiples of ₹1,000. A couple can each have their own account, so up to ₹60 lakh together.
Can I extend SCSS after 5 years?
Yes, in blocks of 3 years, any number of times. Apply within a year of maturity. The extension earns the rate in force when the account matures.
Is SCSS interest tax-free?
No. It is taxed at your slab rate, and TDS applies once a year’s interest passes ₹1 lakh for those 60 or over. Only the deposit gets a deduction, under 80C in the old regime.
Sources: National Savings Institute (small savings rates), India Post, Department of Economic Affairs (small savings), Income Tax Department