Senior Citizens Savings Scheme (SCSS)
Calculate quarterly interest income for senior citizens (60+ years)
Quarterly Interest Income
Quarterly Interest Payout Schedule
| Quarter | Year | Interest Paid |
|---|---|---|
| Q1 | Year 1 | ₹ 30,750 |
| Q2 | Year 1 | ₹ 30,750 |
| Q3 | Year 1 | ₹ 30,750 |
| Q4 | Year 1 | ₹ 30,750 |
| Q1 | Year 2 | ₹ 30,750 |
| Q2 | Year 2 | ₹ 30,750 |
| Q3 | Year 2 | ₹ 30,750 |
| Q4 | Year 2 | ₹ 30,750 |
| Q1 | Year 3 | ₹ 30,750 |
| Q2 | Year 3 | ₹ 30,750 |
| Q3 | Year 3 | ₹ 30,750 |
| Q4 | Year 3 | ₹ 30,750 |
| Q1 | Year 4 | ₹ 30,750 |
| Q2 | Year 4 | ₹ 30,750 |
| Q3 | Year 4 | ₹ 30,750 |
| Q4 | Year 4 | ₹ 30,750 |
| Q1 | Year 5 | ₹ 30,750 |
| Q2 | Year 5 | ₹ 30,750 |
| Q3 | Year 5 | ₹ 30,750 |
| Q4 | Year 5 | ₹ 30,750 |
| Total Interest (5 years) | ₹ 6,15,000 | |
📌 SCSS Key Features
- For individuals aged 60+ years
- 55+ for retired defence/civilian employees
- Min: ₹1,000, Max: ₹30 lakhs
- 5-year tenure (extendable by 3 years)
- Interest paid quarterly
- Highest interest rate among govt schemes
- Section 80C benefit up to ₹1.5 lakh
- TDS if interest > ₹50,000/year
- Premature withdrawal allowed with penalty
- Available at Post Offices & banks
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Frequently Asked Questions
Who is SCSS Calculator useful for?
SCSS Calculator is useful for users evaluating government-backed or regulated saving schemes for long-term planning.
Can scheme rules change over time?
Yes. Interest rates, eligibility rules, and deposit limits can change, so you should verify the latest official guidelines before investing.
Is this tool suitable for planning maturity value?
Yes. It is helpful for estimating maturity amount and understanding how the scheme can fit into your savings plan.
Should I verify final numbers from official sources?
Yes. Use official notifications, bank/post office documents, or scheme circulars for final decision-making.