SCSS Calculator 2026 — Quarterly Income, TDS and Maturity
Work out exactly what a Senior Citizens' Savings Scheme deposit pays you every quarter at 8.2%, whether TDS will be deducted, and what you keep after tax. Free, no sign-up, nothing stored.
🧮 SCSS Income Calculator
8.2% per annum · simple interest · paid at the end of every quarter
Deposits must be in multiples of ₹1,000. The ₹30 lakh ceiling applies across all your SCSS accounts combined.
The base term is 5 years. Since the 2023 amendment you may extend in more than one 3-year block, using Form-4 within a year of maturity.
The ₹30 lakh limit is per person, so a husband and wife holding separate accounts can deposit ₹60 lakh between them.
SCSS interest is fully taxable. Senior citizens can claim up to ₹50,000 of interest income as a deduction (previously Section 80TTB), which this calculator applies.
*Illustrative, at 8.2% p.a. The tax figure is an estimate — your actual liability depends on total income.
Read the full SCSS guide →Your quarterly payout schedule
SCSS credits interest at the end of each quarter rather than compounding it. This is what lands in your savings account, quarter by quarter, for the tenure you selected.
| Quarter | Interest credited | Cumulative received |
|---|
The first payout is pro-rated from your account opening date to the end of that quarter, so it is usually smaller than the ones that follow. Your principal is returned separately at maturity.
How this calculator works
The formula
Quarterly interest = Deposit × 8.2% ÷ 4
SCSS pays simple interest. Nothing compounds inside the scheme, because the interest leaves the account every quarter. On ₹30 lakh that is ₹2,46,000 a year, or ₹61,500 a quarter.
- Rate: 8.2% per annum for the July–September 2026 quarter, notified by the Ministry of Finance on 30 June 2026
- Rate lock: the rate on your opening date applies for the entire 5-year term, regardless of later revisions
- Payout dates: 31 March, 30 June, 30 September and 31 December
- On extension: the rate prevailing on your maturity date becomes the locked rate for that 3-year block
- TDS: deducted at 10% once annual interest crosses ₹1,00,000 for those aged 60+ (threshold raised from ₹50,000 in Budget 2025). File Form 121 each April to stop it if your total income is below the taxable limit
- Tax estimate: applies the ₹50,000 senior-citizen interest deduction (previously Section 80TTB) before your slab rate
What this calculator does not model
Pro-rating of the first quarter from your actual opening date, premature closure penalties (1.5% before two years, 1% after), and interaction with your other income. Treat the tax figure as indicative — it assumes SCSS interest is your only interest income and that you are on the old regime for the deduction.
SCSS rules at a glance
| Rule | Position for 2026 |
|---|---|
| Interest rate | 8.2% p.a. (Q2 FY 2026-27) |
| Minimum / maximum deposit | ₹1,000 / ₹30,00,000, in multiples of ₹1,000 |
| Eligibility | 60+; 55+ on VRS or superannuation; 50+ for defence retirees |
| Tenure | 5 years, extendable in 3-year blocks (Form-4 within one year) |
| Interest payout | Quarterly — 31 Mar, 30 Jun, 30 Sep, 31 Dec |
| Tax on deposit | Deduction up to ₹1.5 lakh under Section 123 (formerly 80C), old regime only |
| Tax on interest | Fully taxable at slab rate |
| TDS threshold (60+) | ₹1,00,000 of annual interest; use Form 121 to stop it |
| Premature closure | No interest before 1 year · 1.5% before 2 years · 1% after 2 years |
| Joint account | Spouse only; the whole deposit counts against the first holder |
| NRIs and HUFs | Not eligible |
Want the detail behind these rules?
The full guide covers eligibility case by case, the extension and closure mechanics, the couple strategy for ₹60 lakh, and how SCSS compares with senior citizen FDs, POMIS and PPF. Read the complete SCSS guide 2026 — or in Hindi.
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