Senior Citizen Savings Scheme Calculator

See the quarterly payout and total interest from a Senior Citizen Savings Scheme deposit.

Official rate effective 01.07.2026 to 30.09.2026 — rates are set by India Post and revised quarterly. Figures are estimates for general planning only — see the explanation below for this scheme's specific assumptions.

Deposit: ₹5,00,000 (71%)Interest received: ₹2,05,000 (29%)

if you deposit ₹5,00,000 in a Senior Citizen Savings Scheme at the current 8.2% rate, you will receive about ₹10,250 every quarter — ₹2,05,000 in total interest over 5 years, with your ₹5,00,000 returned in full at the end. Compare this against the Monthly Income Scheme instead

What is the Senior Citizen Savings Scheme?

A savings scheme specifically for senior citizens (60+, or 55+ for certain retirees), with a 5-year term and one of the highest official rates among small savings schemes. Unlike a Time Deposit or NSC, the interest here is paid out to you every quarter rather than added back to your deposit — so your deposit amount itself never grows, but you receive a steady quarterly income, and get the full original deposit back at maturity.

What this simplifies

The real scheme allows a one-time extension of 3 years after the initial 5-year term, has a maximum deposit limit (₹30 lakh as of recent rules), and premature closure carries a penalty — none of that is modeled here. This shows the standard 5-year term only.

Frequently asked questions

Why doesn’t my deposit amount grow in this calculator?

Because SCSS pays interest out to you every quarter instead of adding it back to your deposit — your original deposit amount stays the same throughout the term and is returned to you in full at maturity, alongside all the quarterly payouts you already received.

Who is eligible for SCSS?

Indian citizens aged 60 and above, or 55+ for certain retirees (subject to specific conditions) — this calculator doesn’t verify eligibility, it only computes the payout for a given deposit and rate.

Common questions answered

Your recent searches

Loading…

What people are doing