Loading page
About this tool
SCSS quarterly interest payout, five-year total interest, TDS threshold check and premature closure deductions.
The Senior Citizen Savings Scheme calculator works out the quarterly interest cheque on an SCSS deposit as deposit x annual rate / 4, because SCSS pays simple interest each quarter rather than compounding it. It is built for retirees planning a predictable income stream and for families comparing SCSS against a bank fixed deposit. Alongside the payout it shows the five-year interest total, the Section 194A TDS position and the Rule 9 deduction if the account is closed early.
Open Senior Citizen Savings Scheme Calculator on AltFTool — it loads instantly in your browser.
Enter the values you already know.
Fine-tune the options to match your scenario.
Read the result and use it in your planning or reporting.
Uses the simple-interest payout rule SCSS actually follows, so the figure matches the post office credit.
Checks the age-60 general route as well as the age-55 superannuation and age-50 defence routes.
Applies the Rule 9 deductions of 1.5% and 1% and the forfeiture of interest before one year.
At the 8.2% rate notified for SCSS, ₹30,00,000 earns ₹61,500 a quarter, which is ₹2,46,000 a year and ₹12,30,000 over the full five years. The formula is deposit x rate / 4, and the ₹30 lakh principal comes back untouched at maturity.
₹30,00,000 per depositor across all SCSS accounts, raised from ₹15,00,000 with effect from 1 April 2023. The minimum is ₹1,000 and deposits must be in multiples of ₹1,000. A joint account with a spouse is treated as belonging to the first holder for this limit.
SCSS interest is fully taxable as income from other sources and is added to your total income at slab rates. Tax is deducted at source under Section 194A once interest crosses the senior-citizen threshold, which the Finance Act 2025 raised to ₹1,00,000 a year. Filing Form 15H stops the deduction if your total income is below the taxable limit.
Closing on or after two years costs 1% of the deposit; closing between one and two years costs 1.5%; closing before one year means no interest is payable at all and any interest already paid is recovered from the principal. These are the deductions set out in Rule 9 of the SCSS Rules, 2019 — check the exact figure with your post office or bank before closing.
Add the Senior Citizen Savings Scheme Calculatorwidget to your blog or website — free, responsive, no signup. Just keep the “Widget by AltFTool” credit link visible.
<iframe src="https://www.altftool.com/embed/widget/scss-quarterly-payout-calculator"
title="Senior Citizen Savings Scheme Calculator — free AltFTool widget"
width="100%" height="640" style="border:0;border-radius:12px;overflow:hidden"
loading="lazy" referrerpolicy="no-referrer-when-downgrade"></iframe>
<p style="font-size:12px;margin:4px 0 0">Widget by <a href="https://www.altftool.com/tools/all/scss-quarterly-payout-calculator?utm_source=embed&utm_medium=widget">AltFTool — free online tools</a></p>