SCSS Calculator
Senior Citizen Savings Scheme — 8.2% p.a. paid quarterly. 5-year term, extendable by 3 years. Principal returned at maturity.
Deposit details
Max ₹30 lakh per individual
Current: 8.2% (Q1 FY 2026-27)
5 years, extendable by 3 years
Your principal ₹15,00,000 is returned at maturity. Interest ₹30,750 is paid every quarter for 5 years. TDS applies if annual interest > ₹50,000 (unless Form 15H is submitted).
Frequently asked questions
Who can invest in SCSS?
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Individuals aged 60+ can open SCSS. Those aged 55–60 who retired under superannuation or VRS, and defence retirees aged 50+, are also eligible (within one month of receiving retirement benefits).
What is the current SCSS rate?
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8.2% per annum for Q1 FY 2026-27, payable quarterly. The rate is fixed at the time of deposit for the full 5-year term.
What is the investment limit?
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Maximum ₹30 lakh per individual (raised from ₹15L in Budget 2023). Minimum ₹1,000. Deposits in multiples of ₹1,000.
Is SCSS interest taxable?
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Yes. Interest is fully taxable as 'income from other sources'. TDS applies if interest exceeds ₹50,000/year. Principal qualifies for Section 80C (old regime).
Can I withdraw early?
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Yes, with penalty. Before 1 year: interest paid back. 1–2 years: 1.5% penalty. 2–5 years: 1% penalty.
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