Senior Citizens Savings Scheme Calculator
Current SCSS Rate = 8.2% | Tenure = 5 Years | Interest paid quarterly
Eligibility
- • Age 60+ years
- • Age 55-60 (retired under VRS)
- • Max investment: ₹30 lakhs
- • Can be extended for 3 more years
Senior Citizens Savings Scheme (SCSS) is a government backed scheme designed for senior citizens in India. The scheme allows to earn interest on deposits up to ₹30 lakh.
You can also calculate returns manually by factoring in quarterly compounding with interest rates 8.2% (at present Q4 FY 2025-26). But doing the calculation manually can be time consuming.
A SCSS Calculator simplifies the calculation for you by giving instant and accurate projections of maturity value. It gives you tax implications and interest earned that helps you plan your retirement income without spreadsheets or guesswork.
What is a SCSS Calculator?
A SCSS Calculator is a free online tool that estimates returns from the Senior Citizens Savings Scheme based on your inputs like deposit amount, tenure, and prevailing interest rate. It automates the formula for compound interest paid quarterly:
A=P(1+r/4)^4t
where
A is the maturity amount,
P is principal,
r is annual rate, and
t is years.
Designed for quick use, it factors in rules like minimum ₹1,000 deposit and 1.5% premature withdrawal penalty after 1 year.
How Does a SCSS Calculator Help?
This tool empowers seniors and planners by delivering precise financial forecasts in seconds. It reveals post-tax returns (interest taxable as per slab), compares SCSS with alternatives like FD, and supports scenario testing, such as extending tenure by 3 years for extra interest. Ultimately, it aids informed decisions, maximising safe yields amid fluctuating rates.
Example: SCSS Calculator in Action
Suppose a 62-year-old invests ₹15 lakh in SCSS at 8.2% for 5 years.What will be the maturity amount? Using the calculator:
Principal | ₹15,00,000 |
Interest Rate | 8.2% p.a. |
Tenure | 5 years |
Results | |
Total Interest Earned | ₹7,50,875.32 |
Maturity Amount | ₹22,50,875.32 |
This breakdown shows quarterly compounding boosts returns beyond simple interest (which would yield only ₹₹7,50,875.32).
If withdrawn early at 3 years, maturity drops to ≈ ₹17,25,000 after penalty, highlighting the tool's value in risk assessment.
How to Use Stockify's SCSS Calculator
Stockify's intuitive SCSS Calculator takes under 30 seconds. Here's how:
Enter Deposit Amount:
Input principal between ₹1,000 and ₹30 lakh, our tool auto-validates limits.
Select Tenure and Rate:
You must choose the tenure as 1-5 years and the current rate (8.2%) pre-fills, or customise for scenarios.
View Instant Results:
With the tool you get the maturity value, interest breakdown, and tax estimates instantly. You can download PDF for records.
Advantages of Stockify's SCSS Calculator
These are the advantages of Stockify’s SCSS Calculator:
Precision with Real-Time Rates:
Pulls latest RBI/SCSS rates (updated quarterly) for accurate, compliant calculations unlike static spreadsheets.
User-Friendly for Seniors:
Mobile-optimised, no sign-up needed, with Hindi/English support and voice input for accessibility.
Advanced Insights:
Includes tax calculator (under Section 80C), comparison with POMIS/SCs, and "what-if" sliders for rate/tenure changes.
Secure and Free:
Bank-grade encryption protects data; integrates with Stockify's portfolio tracker for holistic retirement planning.
Proven Reliability:
Trusted by 50K+ users, with 99.9% uptime and feedback-driven updates.
FAQ
As of January 2026, the current SCSS rate is 8.2% p.a. noted for Q4 FY 2025-26, payable quarterly. You must know that rates reset every quarter, use Stockify's calculator for updates.
Individuals aged 60+ (or 55-60 for VRS retirees) are eligible for SCSS. But HUFs and NRIs are ineligible. Only one-time extension to 70+ is allowed under SCSS.
Yes, fully taxable as "income from other sources" per your slab. No TDS if PAN linked and interest < ₹50,000/year.
Yes, up to 3 years post-maturity. Calculator shows extended returns,e.g., ₹15L at 8.2% yields extra ₹1.2L over 3 years.
If I withdraw prematurely from SCSS you will have to face a penalty. You will not get any interest for the premature period. Allowed after 1 year; tool simulates losses accurately.
SCSS offers higher safety (govt-backed) and quarterly payouts vs. FDs' monthly/annual. Use our comparator for side-by-side yields.
Savings include bank deposits, post-office schemes, and investments like NSC, KVP, and Sukanya Samriddhi Yojna. It is a choice of an individual to invest whether it be in fixed deposit, equity-related, debt-related, online insurance, or any investment scheme.
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