SCSS Calculator India — Senior Citizen Savings Scheme 2026

Last updated: 29 April 2026 Reviewed by Deepa Krishnan, CFP

The **Senior Citizen Savings Scheme (SCSS)** is a government-backed scheme exclusively for senior citizens (60+) offering 8.2% p.a. interest paid quarterly, making it ideal for regular income in retirement. Maximum deposit is ₹30 lakh per individual. The scheme has a 5-year tenure, extendable by 3 years. Interest qualifies for a ₹50,000 deduction under Section 80TTB.

Deposit Amount (₹) Maximum ₹30 lakh (per individual)

Interest Rate (% p.a.) Current SCSS rate: 8.2% (Q1 FY 2026-27)

Tenure (Years) 5-year tenure, extendable by 3 years

Quarterly Interest Payout —

Annual Interest Income —

Total Interest (5 Years) —

Maturity Amount —

View Year-by-Year Breakdown

Real-World Examples — 2026

₹15 lakh SCSS at 8.2% — quarterly income

₹15 lakh in SCSS at 8.2% p.a. generates ₹30,750/quarter (₹1,23,000/year). Over 5 years, total interest = ₹6,15,000. This provides predictable quarterly income for retirement planning. TDS applies if interest exceeds ₹50,000/year.

Couple maximising SCSS deposits

A retired couple can each deposit ₹30 lakh in SCSS (total ₹60 lakh). At 8.2%, combined quarterly payout = ₹1,23,000 (₹4,92,000/year). Each submit Form 15H if income below taxable limit to avoid TDS.

Frequently Asked Questions

Who can open a Senior Citizen Savings Scheme (SCSS) account?

SCSS is available for Indian citizens aged 60 and above. VRS/superannuation retirees aged 55–60 can open within 1 month of receiving retirement benefits. Defence retirees aged 50+ are eligible. NRIs and HUFs are not eligible.

Is SCSS interest taxable?

Yes. SCSS interest is fully taxable as 'income from other sources'. TDS is deducted at 10% if annual interest exceeds ₹50,000 (senior citizen threshold). You can submit Form 15H if total income is below the taxable limit. SCSS does not offer capital gains benefits.

Can SCSS be extended after 5 years?

Yes. SCSS can be extended by 3 years after 5-year maturity by applying within 1 year of maturity. The extended period earns the interest rate applicable on the date of extension. SCSS qualifies for 80C deduction (within ₹1.5 lakh limit).

Is the SCSS Calculator free?

Yes, the SCSS Calculator on CalcPhi is completely free with no registration required.

Are my inputs stored?

No. All calculations run in your browser. We do not store any financial data.

Can I use the SCSS Calculator on mobile?

Yes. CalcPhi is fully mobile-optimised and works on all modern smartphones.