SCSS Calculator - Senior Citizens Savings Scheme
Estimate the quarterly interest income from a Senior Citizens Savings Scheme deposit-one of the highest small-savings rates for 60+ investors.
Figures are mathematical illustrations only and not a promise of performance. Mutual funds, deposits, loans, and insurance are offered by respective institutions-please read scheme documents and terms before investing or borrowing.
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SCSS calculator - how to use this tool
Calculate illustrative quarterly interest on Senior Citizens Savings Scheme deposits.
The Senior Citizens Savings Scheme (SCSS) calculator shows the quarterly interest payout for investors aged 60 and above over the 5-year term, extendable by 3 years. With government backing and a high rate among small-savings schemes, it anchors many retirement income plans.
Adjust sliders to stress-test assumptions, review the visual breakdown where shown, and export or share results. For a documented plan, talk to Saarthi Capital.
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Frequently asked questions
Who can open a Senior Citizens Savings Scheme account?
Resident Indians aged 60 and above; those between 55 and 60 who retired under specified rules may also qualify within the prescribed window. NRIs and HUFs are not eligible.
How often does SCSS pay interest?
Interest is paid quarterly, which makes SCSS popular for regular post-retirement income. The account runs for 5 years and can be extended once for 3 more years.
Is SCSS interest taxable and is TDS deducted?
Interest is fully taxable at your slab, and TDS applies when annual interest crosses the threshold notified for senior citizens. The deposit itself qualifies under 80C within the overall limit (old regime).
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