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About this tool
Work out SCSS quarterly interest payout, annual income, total interest and maturity value from your deposit at the current rate.
This Senior Citizen Savings Scheme calculator turns an SCSS deposit into the numbers that actually matter: the quarterly interest credited to your bank account, the annual income it produces, the total interest over the five-year term, and the principal returned at maturity. SCSS pays simple interest quarterly rather than compounding it, so the tool also shows the 80C deduction on the deposit, the tax payable on the interest at your slab, and whether your interest crosses the senior-citizen TDS threshold. It is meant for retirees planning a predictable income stream from a lump sum such as gratuity, PF or a matured FD.
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.
SCSS pays out every quarter — the tool shows the exact cheque amount and a full payout schedule.
80C deduction on the deposit, tax on interest at your slab, and the TDS threshold warning are all worked out.
See the 1.5% and 1% penalties before you commit money you may need back early.
Interest is simple, not compounded: quarterly payout = deposit × annual rate ÷ 400. Nothing is reinvested, so the full principal comes back at maturity and the interest is credited to your account every quarter.
The limit is ₹30 lakh per individual, raised from ₹15 lakh with effect from 1 April 2023. The minimum is ₹1,000 and deposits must be in multiples of ₹1,000.
Anyone aged 60 or above; those aged 55 to 60 who retired on superannuation or VRS, if the account is opened within one month of receiving retirement benefits; and retired defence personnel from age 50, subject to conditions.
Yes, the interest is fully taxable as income from other sources and TDS applies once annual interest crosses the senior-citizen threshold, unless you submit Form 15H. The deposit itself qualifies for a section 80C deduction of up to ₹1.5 lakh under the old tax regime.
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