What is a SCSS Calculator?
The Senior Citizens Savings Scheme is a government-backed, fixed-income scheme open to those 60 and above (or 55+ for certain retirees), with a 5-year tenure extendable once by 3 years. Unlike PPF or NSC, SCSS pays interest out every quarter rather than compounding it — designed to function as a regular income stream in retirement.
It currently carries one of the highest rates among government small savings schemes, reset quarterly, though the rate on your deposit stays fixed for its full tenure from the date of investment.
How the quarterly payout is calculated
Interest is simple, not compounded — it’s paid out each quarter rather than added back to the principal, so the payout amount stays level for the full 5-year tenure at a fixed rate.
Frequently asked questions
What is the current SCSS interest rate?
The rate is notified at 8.2% per annum for Q2 FY 2026-27 (July–September 2026), among the highest government-backed rates available, fixed for your deposit’s full tenure once invested.
What is the maximum SCSS deposit?
The ceiling has been ₹30 lakh per individual since it was raised in 2023 — confirm the current limit on the India Post or your bank’s SCSS page before investing, as scheme limits are periodically revised.
Is SCSS interest taxable?
Yes, fully taxable at your slab rate, and TDS is deducted if total interest across your SCSS deposits crosses the applicable annual threshold.