Use this senior citizen saving scheme calculator to see exactly what SCSS will credit every quarter, what that averages per month, and the total interest over five or eight years. It uses the current SCSS rate of 8.2% and the ₹30 lakh limit.
The figures match the post office method: simple interest, a quarter of the yearly amount on each payout date. The calculator runs in your browser and keeps nothing.
At a glance
Rate
8.2% a yearQuarterly payout
Deposit × rate ÷ 4Limit
₹30 lakh per personPaid on
1 April, 1 July, 1 October, 1 JanuaryTerm options
5 years, or 8 with one extension
How this senior citizen saving scheme calculator works
SCSS interest is simple interest paid out every quarter. The formula is short:
₹12 lakh × 8.2% ÷ 4 = ₹24,600 every quarter. That is ₹98,400 a year, or ₹8,200 a month on average, and ₹4,92,000 over five years. The ₹12 lakh comes back at maturity.
Because nothing is added back to the deposit, each quarter's credit matches the last, except the very first one, which covers only the stretch between the deposit date and the first quarter day.
SCSS interest table for quick answers
| Deposit | Quarterly | Yearly | 5 year total |
|---|---|---|---|
| ₹1 lakh | ₹2,050 | ₹8,200 | ₹41,000 |
| ₹3 lakh | ₹6,150 | ₹24,600 | ₹1,23,000 |
| ₹7 lakh | ₹14,350 | ₹57,400 | ₹2,87,000 |
| ₹20 lakh | ₹41,000 | ₹1,64,000 | ₹8,20,000 |
| ₹30 lakh | ₹61,500 | ₹2,46,000 | ₹12,30,000 |
All at 8.2%. For the rules behind the numbers, read the main senior citizen saving scheme guide.
Senior citizen savings scheme interest rate calculator vs MIS
Retirees often type the same amount into the SCSS and MIS calculators to choose. On ₹9 lakh:
| SCSS | MIS | |
|---|---|---|
| Payout | ₹18,450 a quarter | ₹5,550 a month |
| Per month on average | ₹6,150 | ₹5,550 |
| 5 year interest | ₹3,69,000 | ₹3,33,000 |
SCSS earns ₹36,000 more over five years on this amount. The MIS calculator is still useful if you cross the ₹30 lakh limit or prefer a monthly credit.
Tax: from calculator figure to money in hand
The calculator shows interest before tax. TDS is cut once yearly SCSS interest passes ₹1 lakh for a senior citizen, which happens at a deposit of about ₹12.2 lakh and above.
- With no tax due, give Form 15H to stop TDS.
- If you pay tax at 20%, ₹61,500 a quarter leaves about ₹49,200 after tax.
- The deposit itself can cut your taxable income by up to ₹1.5 lakh in the year you invest, under section 123 (the old 80C), if you use the old regime.
Planning with the 8 year option
Choose 8 years in the calculator to see the effect of one three year extension. The calculator assumes the same rate, which is only an estimate: the extension takes the rate current at maturity, which may be higher or lower.
The extension rules, including the one year window to apply, are on the SCSS rules page.
Common mistakes when using an SCSS calculator
| Mistake | What to do instead |
|---|---|
| Expecting compound growth | SCSS pays out interest; reinvest it yourself in an RD if you want growth |
| Entering more than ₹30 lakh | The cap is per person; a spouse can open a separate account |
| Forgetting the short first quarter | Expect a smaller first credit |
| Using an old rate | Check the current SCSS interest rate |
Post office senior citizen scheme calculator: one tool, many names
Whether you call it the post office senior citizen scheme calculator, the senior citizen saving scheme post office calculator, the SCSS calculator or the senior citizen savings scheme (SCSS) calculator, the maths is the same, because the scheme is the same at every counter. People who type post office monthly income scheme calculator for senior citizen usually want this page; seniors usually earn more here than in MIS.
This post office senior citizen scheme interest calculator also works for accounts at banks. It cannot show bonuses or extra rates, because SCSS has none.
Frequently asked questions
How is SCSS interest calculated?
Take the deposit, apply the yearly rate and split it in four, paid every quarter. At 8.2%, ₹10 lakh pays ₹20,500 a quarter.
How much interest will I get on ₹15 lakh in SCSS?
₹30,750 every quarter, ₹1,23,000 a year and ₹6,15,000 over five years at 8.2%.
Can the SCSS calculator show monthly interest?
It shows the monthly average. The scheme itself pays quarterly, not monthly.
Does the SCSS calculator work for bank accounts too?
Yes. Banks that offer SCSS pay the same government rate with the same rules.
Is SCSS interest compounded?
No. It is simple interest paid out each quarter, so the payout stays the same for the full term.