SCSS Calculator — Senior Citizen Savings Scheme
This SCSS calculator works out the quarterly payout, total interest and maturity value of a Senior Citizen Savings Scheme deposit — a government-backed scheme for Indians aged 60 and above (55+ for VRS or superannuation retirees who invest within a month of receiving their retirement funds, 50+ for retired defense personnel). Unlike PPF or NSC, SCSS pays interest out every quarter as simple interest rather than compounding it, so your principal is returned unchanged at maturity. Enter your deposit and the current rate to see all three figures.
Minimum ₹1,000, maximum ₹30,00,000 per individual (raised from ₹15,00,000 in Budget 2023) — deposits above the limit are not accepted.
Set by the government every quarter — currently 8.2% for the Jan–Mar 2026 quarter. The rate is locked in for your full 5-year tenure once you open the account.
Quarterly payout
Log in to save₹30,750
Paid directly to your linked savings account every quarter — SCSS distributes interest rather than compounding it.
The original principal, returned at the end of the 5-year term — interest was already paid out to you quarterly, not added to this amount.
How to use this scss calculator
- 1Deposit amount: the lump sum you invest when opening the account, minimum ₹1,000 and maximum ₹30,00,000 per individual (₹15,00,000 was the limit before Budget 2023 raised it).
- 2SCSS interest rate: the government revises this every quarter for new accounts; whatever rate applies when you open the account stays fixed for your full 5-year tenure.
Understanding your results
Quarterly payout is the simple interest credited to your linked savings account every three months — SCSS does not reinvest or compound this interest, it pays it straight out. Total interest over 5 years is that same quarterly payout multiplied across all 20 quarters of the tenure. Maturity value is your original deposit amount, returned unchanged at the end of 5 years — since interest was already paid out along the way rather than added to the balance, this is a common point of confusion versus compounding schemes like PPF or NSC, where the maturity value includes accumulated interest.
The formula
Quarterly payout = Deposit × rate / 4; Total interest (5 years) = Deposit × rate × 5; Maturity value = DepositSCSS pays simple interest on the original deposit only — it never compounds, because the interest is distributed to you every quarter rather than added back to the principal. That's why the quarterly payout is just one-fourth of a year's simple interest, and why multiplying that payout by 20 quarters (5 years) gives the total interest paid over the tenure. Because none of the interest is retained in the account, the maturity value returned to you at the end is exactly your original deposit.
A worked example
₹15,00,000 deposited at the default 8.2% rate: the quarterly payout is ₹15,00,000 × 8.2% ÷ 4 = ₹30,750, paid into your linked account every three months. Over the full 5-year tenure (20 quarters), total interest received is ₹15,00,000 × 8.2% × 5 = ₹6,15,000. At maturity, the original ₹15,00,000 principal is returned — the interest was already paid to you quarterly, not compounded into this figure.
Things to know
SCSS is a government-backed scheme available through post offices and authorized banks, with the interest rate revised every quarter — the 8.2% used here is the rate for the January–March 2026 quarter, and it applies for the full 5-year tenure of accounts opened in that quarter, but new accounts opened later may get a different rate. The deposit limit was raised from ₹15,00,000 to ₹30,00,000 per individual in Budget 2023. The scheme can be extended once, for 3 more years, after the initial 5-year term matures. Always verify the current quarter's rate and eligibility rules against official India Post or bank SCSS guidance before investing.
Frequently asked questions
Who is eligible to open an SCSS account?+
Indian residents aged 60 and above can open an SCSS account. Retirees aged 55–60 who took voluntary retirement (VRS) or superannuation can also open one, provided they invest within one month of receiving their retirement funds. Retired defense personnel are eligible from age 50.
Why doesn't the maturity value include the interest I earned?+
Because SCSS pays interest out quarterly rather than compounding it — by the time your account matures, all the interest has already been credited to your linked savings account in 20 quarterly installments. The maturity value shown here is just your original principal, returned intact. Add up the quarterly payouts yourself if you want your true total return.
Can I extend my SCSS account after 5 years?+
Yes — SCSS can be extended once, for a further 3 years, within one year of the original maturity date. The extended account typically earns interest at the rate applicable on the date of extension, not the original rate, so check the current rate at that time.