SCSS Calculator
What the Senior Citizens Savings Scheme pays you, quarter by quarter and after tax. Includes the ₹50,000 Section 80TTB deduction, which most SCSS calculators leave out and which is worth about half a point of yield at the top slab.
Your deposit
What you receive
| Annual interest (pre-tax) | — |
| Covered by 80TTB | — |
| Taxable interest | — |
| Tax at slab (+4% cess) | — |
| Post-tax annual income | — |
| Post-tax, per month equivalent | — |
| Effective post-tax yield | — |
| Total interest over the term | — |
| Post-tax over the term | — |
| TDS applies? | — |
SCSS pays simple interest quarterly and does not compound, so the annual figure is the deposit times the rate. The monthly equivalent is the annual income divided by twelve, not a monthly payment: the money arrives on 1 April, 1 July, 1 October and 1 January.
Why the 80TTB line matters
Section 80TTB lets anyone aged 60 or over deduct up to ₹50,000 of interest income before tax is calculated. It is a deduction from income, not a credit against tax, so it comes off before your slab rate applies.
On a full ₹30 lakh deposit at 8.2%, the ₹2,46,000 of annual interest becomes ₹1,96,000 of taxable interest. At the 30% slab that is the difference between paying ₹76,752 and ₹61,152, so the deduction is worth about ₹15,600 a year, or roughly half a percentage point of yield. Most SCSS calculators skip it and quietly understate what you keep.
One caveat, which is why this page lets you switch it off: the ₹50,000 is shared across all your interest income. If a bank FD or savings account has already absorbed it, SCSS does not get it again.
The rate is locked, which is the real difference from FRSB
SCSS fixes your rate at the moment you open the account and holds it for the full five years, regardless of what the quarterly small-savings announcement does afterwards. The RBI Floating Rate Savings Bond pays more today at 8.05% versus, well, less than SCSS's 8.2%, but it resets every six months against NSC. In a falling-rate cycle that difference compounds in SCSS's favour, and in a rising one it goes the other way.
That, plus the quarterly payout and the shorter five-year term, is why the senior citizen's menu puts SCSS first and treats FRSB as the overflow once the ₹30 lakh cap is full.
The cap is per person, not per couple
₹30 lakh is an individual limit. Two spouses who are both eligible can hold ₹30 lakh each in separate accounts, which is ₹60 lakh at 8.2% between them and two separate ₹50,000 80TTB deductions. Beyond that the money has to go somewhere else, and the comparator shows what is left once SCSS is full.
What this doesn't model
Surcharge on very high incomes, the 80C deduction available on the deposit itself in the year you invest, and the penalty for premature closure (1.5% of the deposit before two years, 1% after). It also assumes you spend the interest rather than reinvesting it, which is what most people using SCSS do, and is why the total over the term is a simple multiple rather than a compounded figure.
Frequently asked questions
How much does SCSS pay per quarter on ₹30 lakh?
At the current 8.2% rate, a full ₹30 lakh deposit pays ₹61,500 every quarter, or ₹2,46,000 a year, before tax. Interest is credited on 1 April, 1 July, 1 October and 1 January. It does not compound: SCSS pays interest out rather than adding it to your deposit.
Is the 8.2% locked for the full five years?
Yes. The rate at the time you open the account applies for the whole five-year term, even if the quarterly small-savings announcement moves the rate for new accounts afterwards. That is the main structural difference from the RBI Floating Rate Savings Bond, whose rate resets every six months.
What is Section 80TTB and why does this calculator use it?
80TTB lets a resident aged 60 or over deduct up to ₹50,000 of interest income from taxable income. Most SCSS calculators ignore it, which overstates your tax. It is a deduction from income rather than a credit against tax, so it applies before your slab. On a full ₹30 lakh deposit at the 30% slab it is worth roughly half a percentage point of yield. The deduction is shared across all your interest income, so switch it off here if an FD or savings account has already used it.
Will TDS be deducted from my SCSS interest?
Yes, once your SCSS interest crosses ₹1,00,000 in a financial year for account holders aged 60 and over, a threshold raised from ₹50,000 in Budget 2025. TDS is a timing effect rather than an extra cost: it is adjusted against your final liability. If your total income is below the taxable limit, file Form 121, which replaced Forms 15G and 15H from 1 April 2026.
Can I invest more than ₹30 lakh?
Not in one name. The ₹30 lakh limit is per individual, so a couple who are both 60 or over can hold ₹30 lakh each in separate accounts for ₹60 lakh between them. Beyond that, the usual next stop is the RBI Floating Rate Savings Bond, which has no cap, though it pays half-yearly rather than quarterly and locks for seven years.
What happens if I close the account early?
Premature closure is allowed after one year. Closing between one and two years costs 1.5% of the deposit; after two years it costs 1%. The five-year term can also be extended in three-year blocks, applied for within a year of each maturity.
Related tools & guides
Educational tool, last reviewed July 2026. Results are estimates based on your inputs and standard market conventions; actual traded prices, taxes and platform charges may differ. Not investment advice; see the disclaimer.