What is it?
The Senior Citizens Savings Scheme (SCSS) Calculator shows the interest you get from SCSS. It shows the interest every quarter, its monthly equivalent, the interest a year and the total over 5 years.
Who is it for?
Retired people aged 60+ (and some early retirees) wanting regular, safe quarterly income.
How to use it
Enter the Amount (₹1,000 to ₹30 lakh) and the Interest rate (fixed for 5 years once you invest). The answer appears as you type; there is no Calculate button. Tap Copy result to copy it, or Share on WhatsApp to send it.
Who can open it
- People aged 60 or above. Retired civilians aged 55–60 and retired defence personnel aged 50–60 can open it within a set period after retirement, with their retirement benefits.
- One account alone or jointly with a spouse; the limit applies per person across accounts.
Rules to know
- Interest is paid every quarter (1 April, 1 July, 1 October, 1 January) to your savings account. Unclaimed interest earns nothing extra.
- The term is 5 years and can be extended by 3 years at a time, at the rate in force then.
- Early closure has a penalty: 1.5% of the deposit before 2 years, 1% after.
- Deposits qualify under 80C (old regime). Interest is taxable; TDS is cut above the yearly limit unless you submit Form 15H.
Check the current rate
Small savings rates are set by the Government of India every quarter. The calculator starts with the rate shown on it; check the latest rate on the India Post website or at your post office or bank before investing, and type it in.
This is an estimate to help you plan, not financial or tax advice. Read the scheme or policy documents, and ask a qualified adviser for big decisions.
Errors and how to fix them
- “SCSS accepts ₹1,000 to ₹30 lakh per person”
Open the tool: Senior Citizens Savings Scheme Calculator
Still stuck?
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Questions, or an error not listed here?
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