Senior Citizen Savings Scheme (SCSS) Calculator
Free Senior Citizen Savings Scheme calculator: enter your deposit and rate to see the quarterly SCSS interest payout, total interest over 5 years and maturity value.
Updated 2026-06-14 · Free · No sign-up · Runs privately in your browser
Show the formula & steps
How the Senior Citizen Savings Scheme Calculator Works
The Senior Citizen Savings Scheme (SCSS) is a government scheme for retirees that pays interest every quarter over a 5-year term. The interest is a regular income stream rather than a compounded lump sum, and your deposit is returned at maturity. This calculator shows the quarterly payout, the total interest over 5 years, and the maturity value.
The Formula
SCSS pays simple interest quarterly. The interest is calculated on the original deposit and paid out, so it does not compound:
Quarterly interest = P × r / 4 Total interest (5 years) = Quarterly interest × 20 Maturity value = P + Total interest
Where P is your deposit and r is the annual rate as a decimal (for 8.2%, r = 0.082). There are 20 quarters in the 5-year term.
Worked Example
Depositing INR 10,00,000 at 8.2%:
- Quarterly interest = 1000000 × 0.082 / 4 = INR 20,500 every quarter.
- Total interest over 20 quarters = 20500 × 20 = INR 4,10,000.
- Maturity value = 1000000 + 410000 = INR 14,10,000 (your INR 10 lakh principal is returned with the interest already paid out).
Quarterly Income at Different Deposits
Because the interest is paid out and not compounded, the quarterly income scales directly with your deposit:
| Deposit | Quarterly payout (8.2%) | Total interest (5 yrs) |
|---|---|---|
| INR 5,00,000 | INR 10,250 | INR 2,05,000 |
| INR 10,00,000 | INR 20,500 | INR 4,10,000 |
| INR 30,00,000 | INR 61,500 | INR 12,30,000 |
Why Retirees Choose SCSS
SCSS combines a sovereign guarantee with one of the highest rates among small-savings schemes and a predictable quarterly income, which suits retirees who need regular cash flow. The deposit qualifies for a Section 80C deduction up to the overall limit. Note that the interest is taxable and TDS may apply if the annual interest crosses the threshold, so factor tax into your income planning.
Frequently asked questions
How is interest on the Senior Citizen Savings Scheme calculated?+
SCSS pays simple interest each quarter equal to deposit times annual rate divided by 4. Over the 5-year term that payout happens 20 times. The interest is paid out, not reinvested, and your principal is returned at maturity.
Is SCSS interest paid monthly or quarterly?+
SCSS interest is paid quarterly, on the first working day of April, July, October and January. The quarterly amount equals your deposit multiplied by the annual rate and divided by four.
What is the current SCSS interest rate?+
SCSS pays a government-set rate that is reviewed each quarter but locked in for the full 5-year term once you invest; it was 8.2% per year at the time of writing. The calculator lets you enter the applicable rate.
What is the maximum I can invest in SCSS?+
The maximum investment in the Senior Citizen Savings Scheme is INR 30,00,000 per individual, with a minimum of INR 1,000. The scheme is open to people aged 60 and above, and to certain retirees from age 55.
How much quarterly income does INR 30 lakh in SCSS pay?+
At 8.2% per year, INR 30,00,000 pays 30,00,000 times 8.2% divided by 4, which is INR 61,500 every quarter. Over the 5-year term that totals about INR 12,30,000 in interest, plus return of the INR 30 lakh principal.