SCSS Calculator
Calculate the quarterly interest payout and maturity value of your Senior Citizen Savings Scheme (SCSS) investment. SCSS offers a fixed, government-guaranteed interest rate of 8.2% p.a., paid quarterly, over a 5-year tenure — enter your deposit amount to see exactly what you'll receive.
How Your SCSS Interest Adds Up
Since SCSS pays simple interest — not compound — your deposit stays flat while the interest you receive accumulates steadily every quarter.
SCSS Interest Payout, Year by Year
See exactly how much interest is credited each year of your SCSS account's 5-year tenure.
Swipe horizontally to view the complete SCSS payout breakdown.
| Year | Interest Paid That Year | Cumulative Interest Received |
|---|---|---|
| 1 | ₹1,23,000.00 | ₹1,23,000.00 |
| 2 | ₹1,23,000.00 | ₹2,46,000.00 |
| 3 | ₹1,23,000.00 | ₹3,69,000.00 |
| 4 | ₹1,23,000.00 | ₹4,92,000.00 |
| 5 | ₹1,23,000.00 | ₹6,15,000.00 |
How SCSS Interest Is Calculated
SCSS uses simple interest, paid quarterly, on your original deposit — here's the formula behind it.
SCSS Interest Formula
Step 1
Quarterly Interest = Principal × Rate / 4 / 100
Step 2
Total Interest = Quarterly Interest × 20 Quarters
Maturity Amount = Principal + Total Interest
Principal
Your deposit amount
Rate
8.2% p.a. (fixed by govt.)
Tenure
5 years (extendable by 3)
Note: SCSS pays simple interest, not compound interest — unlike PPF or NSC, your principal never grows. Interest is calculated only on your original deposit and paid out to you every quarter instead of being reinvested.
SCSS Interest Calculation Example
See how your deposit generates a quarterly income and grows to its maturity value, step by step.
Worked Example
You deposit ₹15,00,000.00 in an SCSS account at the current fixed rate of 8.2% p.a., which works out to a quarterly interest payout of ₹30,750.00, credited to your account every three months.
Over the fixed 5-year tenure (20 quarters), that adds up to a total interest of ₹6,15,000.00. Since your principal is returned in full at maturity, your final maturity value comes to ₹21,15,000.00.
A few things worth knowing about SCSS:
Unlike NSC or PPF, interest here doesn't compound — it's paid out to you every quarter rather than being reinvested, so it works more like a regular pension.
If your total interest income crosses ₹50,000 in a financial year, TDS will be deducted unless you submit Form 15G/15H (where applicable).
You can extend your account once for another 3 years after the initial 5-year tenure ends, if you don't need the funds right away.
Key Features of SCSS
A quick reference to what makes SCSS one of India's most reliable regular-income schemes for senior citizens.
At a Glance
Government-Backed
SCSS is issued by India Post and backed by the Government of India, making it one of the safest fixed-income instruments for retirees — there's effectively no credit risk.
Regular Quarterly Income
Interest is paid out every quarter rather than reinvested, giving you a predictable income stream — a key difference from accumulation-focused schemes like NSC or PPF.
Section 80C Tax Benefit
Deposits up to ₹1.5 lakh per financial year qualify for a deduction under Section 80C — the same overall limit shared with PPF, NSC, and EPF.
Higher Rate Than Most Savings Instruments
SCSS typically offers one of the highest interest rates among government-backed small savings schemes, reflecting its focus on senior citizens' retirement income.
5-Year Tenure, Extendable by 3
The scheme runs for 5 years and can be extended once for another 3 years after maturity, giving you flexibility if you don't need the funds immediately.
Premature Withdrawal Allowed
Unlike some lock-in schemes, SCSS permits withdrawal is allowed at any time, subject to a small penalty — useful if you need access to your funds in an emergency.
Frequently Asked Questions
Find answers to the most common questions about SCSS and how this calculator works.
Disclaimer
Results are estimates for informational purposes only and may differ from actual values. Do not make financial, investment, tax, or legal decisions based solely on these results. Verify important calculations with official sources or a qualified professional. CalcMint is not liable for any loss or damage resulting from the use of this calculator.
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