SCSS Calculator
Calculate returns on Senior Citizens Savings Scheme (SCSS)
Calculate Your Returns
Maximum ₹15 lakh for single account, ₹30 lakh for joint account
SCSS has a fixed tenure of 5 years (can be extended for 3 more years)
Select your income tax slab for tax calculation
TDS Applicable
Annual interest (₹1,23,000) exceeds threshold of ₹50,000. TDS of ₹12,300/year will be deducted.
Quarterly income
₹30,750
Annual interest
₹1,23,000
Total interest earned
₹6,15,000
Total TDS deducted
₹61,500
Tax on interest
₹1,23,000
Post-tax interest
₹4,92,000
Maturity amount (Principal)
₹15,00,000
Total returns (Principal + Interest)
₹21,15,000
Post-tax total returns
₹19,92,000
Quarterly Income & Cumulative Interest
Year-by-Year Interest Accumulation
Year-by-Year Breakdown
Returns Breakdown
Understanding SCSS (Senior Citizens Savings Scheme)
What is SCSS?
- • Government-backed savings scheme exclusively for senior citizens (60+ years)
- • Provides regular quarterly income with principal protection
- • Fixed tenure of 5 years (can be extended for 3 more years)
- • Maximum investment: ₹15 lakh (single) or ₹30 lakh (joint account)
- • Currently offers attractive interest rates (~8.2% p.a.)
Key Features:
- • Quarterly Income: Interest paid every quarter
- • Tax Benefits: Investment qualifies for Section 80C deduction (up to ₹1.5 lakh)
- • TDS: 10% TDS if annual interest exceeds ₹50,000
- • Interest Taxable: Interest income is taxable as per your tax slab
- • Premature Withdrawal: Allowed after 1 year with penalty
- • Extension: Can be extended for 3 more years after maturity
Eligibility & Benefits:
- • Age: Must be 60+ years (55+ for retired employees)
- • Tax Savings: Up to ₹1.5 lakh deduction under Section 80C
- • Regular Income: Quarterly interest payments for cash flow
- • Safety: Government-backed, very safe investment
- • Higher Returns: Better rates than regular FDs for senior citizens
Disclaimer: This calculator is for estimation purposes only. Results are approximate and may vary from actual values. Please consult with a financial advisor for personalized advice.