Who can open an SCSS account?

Residents aged 60 or above; 55–60 if you've retired on superannuation or VRS; 50+ for defence-service retirees. The deposit limit is ₹30,00,000 per person.

Is the interest taxable?

Yes — SCSS interest is fully taxable at your slab rate, and TDS is deducted if the interest exceeds ₹50,000 in a financial year. The deposit still qualifies for the 80C deduction.

Is the interest reinvested?

No. It is paid into your linked account every quarter, so this scheme is for regular income, not compounding.

SCSS Calculator (Senior Citizens' Savings Scheme)

Work out the payout from a Senior Citizens' Savings Scheme deposit. SCSS pays interest every quarter (not reinvested) at 8.2% for 2025, over a 5-year term. Enter the amount to see the quarterly and yearly income, the total interest, and the principal returned at maturity.

Deposit amount (₹)

Interest rate (% p.a.)8.2% for 2025 — set by the government each quarter.

Quarterly payout

₹30,750

≈ ₹10,250 / month

Interest a year

₹1,23,000

Total interest (5 yrs)

₹6,15,000

Principal returned at maturity (5 yrs)₹15,00,000

Total received over the term₹21,15,000

For residents aged 60+ (or 55–60 on retirement / VRS, or 50+ for defence retirees). The term is 5 years, extendable once by 3. Interest is paid out every quarter — it is not reinvested — and is fully taxable at your slab (TDS applies over ₹50,000/year). The 80C deduction applies to the deposit. Estimate only. Nothing is uploaded.

FAQ

Who can open an SCSS account?: Residents aged 60 or above; 55–60 if you've retired on superannuation or VRS; 50+ for defence-service retirees. The deposit limit is ₹30,00,000 per person.
Is the interest taxable?: Yes — SCSS interest is fully taxable at your slab rate, and TDS is deducted if the interest exceeds ₹50,000 in a financial year. The deposit still qualifies for the 80C deduction.
Is the interest reinvested?: No. It is paid into your linked account every quarter, so this scheme is for regular income, not compounding.

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