Minimum ₹1,000, maximum ₹30,00,000 per person across all SCSS accounts.
Official rate for the October–December 2026 quarter: 8.2%. Fixed for 5 years from the deposit date.
Quick examples
On a deposit of ₹15,00,000 at a fixed 8.2%.
What each result means
Quarterly interest
What it is: Paid out on 1 April, 1 July, 1 October and 1 January.
Your value: ₹30,750
Regular income — it is not added back to the deposit.
Yearly interest
What it is: Four quarterly payments.
Your value: ₹1,23,000
Taxable in your hands.
Total interest over 5 years
What it is: All twenty payments.
Your value: ₹6,15,000
Simple interest, paid out.
Deposit returned at maturity
What it is: Your original deposit, paid back after 5 years.
Your value: ₹15,00,000
The deposit does not grow.
Year-by-year breakdown
| Year | Interest this year (₹) | Interest received to date (₹) |
|---|---|---|
| 1 | ₹1,23,000 | ₹1,23,000 |
| 2 | ₹1,23,000 | ₹2,46,000 |
| 3 | ₹1,23,000 | ₹3,69,000 |
Interest is paid out every quarter and is not compounded. The deposit itself stays the same and is returned after 5 years.
Showing the first 3 of 5 years. Want charts, formulas and the full schedule? Get the detailed PDF.
What this calculator does
The Senior Citizen Savings Scheme (SCSS) is for people aged 60 or above (55 for some retirees). You deposit once and receive interest every quarter for 5 years, then get the deposit back. The rate is fixed for the whole term.
What your result means
SCSS is built for regular income, not growth. Because interest is paid out rather than reinvested, the total interest is simple interest on the deposit.
Formula
1. SCSS quarterly interest
Symbols
- Q
- Interest paid each quarter (₹)
- P
- Deposit (₹)
- r
- Annual rate (decimal)
Why this formula works
The annual rate is split into four equal quarterly payments, with no compounding.
Unit check
₹ = ₹ × (no unit). ✓
Worked example
P = ₹15,00,000, r = 8.2%: Q = ₹30,750.
Common mistakes
Compounding the interest — SCSS pays it out. Assuming the deposit grows.
Working for your numbers
- Q = ₹15,00,000 × 8.2% ÷ 4 = ₹30,750
- Yearly = ₹30,750 × 4 = ₹1,23,000
- 5 years = ₹30,750 × 20 = ₹6,15,000
Frequently asked questions
Does the SCSS rate change during my 5 years?
No. The rate on your deposit date (8.2% for the October–December 2026 quarter) is fixed for 5 years.
Is SCSS interest taxable?
Yes. Interest is taxable, and TDS applies above the threshold. In the old regime the deposit qualifies under Section 80C.
Can I extend SCSS?
Yes, the account can be extended in blocks of 3 years at the rate applicable on the extension date.
Does this calculator tell me whether to invest?
No. It is an educational projection using the official rate and standard scheme rules. It does not consider your goals, taxes or other options. For a personal decision, speak to a SEBI-registered investment adviser.
Symbols and assumptions
- P
- Deposit (₹)
- r
- Annual rate (%)
- A single deposit held for 5 years.
- Interest is paid out each quarter, not reinvested.
- Tax and TDS are not deducted in these figures.
- Figures are in Indian Rupees (₹).
Sources and review
Reviewed 2026-10-05 · Next review 2026-12-31
- National Savings Institute — small savings schemes and current rates, Ministry of Finance
- India Post — Post Office Savings Schemes
- Department of Economic Affairs, Ministry of Finance — small savings rate notifications
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Related Calculators
How it works
Post office scheme for retirees providing regular quarterly interest income.
The formula
Interest = (P × r) / 4- P
- Principal Amount
- r
- Annual Rate
Worked example
₹15 Lakh deposit yielding quarterly interest for 5 years.
Pro tips
- Interest is paid out on the first day of every quarter.
- Max limit is ₹30 Lakh per individual.
Common mistakes
- Not considering the taxability of interest income.
Go deeper
Related lessons
Concepts to explore
Related guides
Institutional grade calculations are illustrative and for educational wealth architecture. Results do not constitute investment advice.