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Senior Citizen Savings Scheme (SCSS) Calculator

Calculate quarterly interest, maturity value and returns for Senior Citizen Savings Scheme. Check eligibility, current interest rates, tax benefits and compare with other senior investment options.

Exclusive for Senior Citizens (60+ years)
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SCSS Calculation Parameters

Eligibility Check
Senior Citizen Savings Scheme is available for individuals aged 60 years and above
Retired individuals aged 55+ can also invest under specific conditions
₹
₹15,00,000
Minimum ₹1,000, Maximum ₹30 lakhs (including joint account)
5 Years (Fixed)
SCSS can be extended for 3 years after initial 5-year period
%
8.2%
Senior Citizen Savings Scheme (SCSS) 8.2% Current
Post Office Monthly Income Scheme 7.4%
Bank Fixed Deposits (Senior) 7.0% - 7.5%
Pradhan Mantri Vaya Vandana Yojana 7.4%
₹22,45,670
Estimated Maturity Value with Quarterly Interest

SCSS Investment Results

₹22,45,670
Total Maturity Value
₹15,00,000
Total Investment
₹7,45,670
Total Returns
₹30,750
Quarterly Interest
8.2%
Annual Return

Quarterly Interest & Growth

SCSS Growth Chart Visualization
₹46,500
Estimated Annual Tax Savings (Section 80C)
Based on 31.2% tax slab (including cess) on maximum ₹1.5 lakhs deduction
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Quarterly Interest Breakdown

QuarterQuarter StartPrincipal AmountQuarterly InterestCumulative Interest
Q1Jan-Mar 2024₹1,500,000₹30,750₹30,750
Q2Apr-Jun 2024₹1,500,000₹30,750₹61,500
Q3Jul-Sep 2024₹1,500,000₹30,750₹92,250
Q4Oct-Dec 2024₹1,500,000₹30,750₹123,000
Q5Jan-Mar 2025₹1,500,000₹30,750₹153,750
Q6Apr-Jun 2025₹1,500,000₹30,750₹184,500
Q7Jul-Sep 2025₹1,500,000₹30,750₹215,250
Q8Oct-Dec 2025₹1,500,000₹30,750₹246,000
Q9Jan-Mar 2026₹1,500,000₹30,750₹276,750
Q10Apr-Jun 2026₹1,500,000₹30,750₹307,500
Q11Jul-Sep 2026₹1,500,000₹30,750₹338,250
Q12Oct-Dec 2026₹1,500,000₹30,750₹369,000
Q13Jan-Mar 2027₹1,500,000₹30,750₹399,750
Q14Apr-Jun 2027₹1,500,000₹30,750₹430,500
Q15Jul-Sep 2027₹1,500,000₹30,750₹461,250
Q16Oct-Dec 2027₹1,500,000₹30,750₹492,000
Q17Jan-Mar 2028₹1,500,000₹30,750₹522,750
Q18Apr-Jun 2028₹1,500,000₹30,750₹553,500
Q19Jul-Sep 2028₹1,500,000₹30,750₹584,250
Q20Oct-Dec 2028₹1,500,000₹30,750₹615,000
Quarter Quarter Start Principal Amount Quarterly Interest Cumulative Interest
Q1 Apr 2024 ₹15,00,000 ₹30,750 ₹30,750
Q2 Jul 2024 ₹15,00,000 ₹30,750 ₹61,500
Q20 Jan 2029 ₹15,00,000 ₹30,750 ₹6,15,000

Compare Senior Citizen Investment Options

Scheme Name Interest Rate Tenure Minimum Investment Maximum Investment Tax Benefits Best For
Senior Citizen Savings Scheme (SCSS) 8.2% 5 years + 3 years extension ₹1,000 ₹30 lakhs Yes (80C) Regular quarterly income
Post Office Monthly Income Scheme 7.4% 5 years ₹1,500 ₹45 lakhs (single) No Monthly income needs
Pradhan Mantri Vaya Vandana Yojana 7.4% 10 years ₹1,62,308 ₹15 lakhs No Pension planning
Bank Fixed Deposits (Senior) 7.0% - 7.5% 7 days - 10 years ₹1,000 No limit No (TDS applicable) Flexible tenure
Senior Citizen Saving Certificate 8.2% 5 years ₹1,000 ₹30 lakhs Yes (80C) Tax saving with returns

Important Information About Senior Citizen Savings Scheme

  • SCSS offers one of the highest interest rates among all government-backed savings schemes
  • Interest is paid quarterly, providing regular income for senior citizens
  • Investment up to ₹1.5 lakhs qualifies for tax deduction under Section 80C of Income Tax Act
  • Account can be opened individually or jointly with spouse
  • Premature withdrawal is allowed after 1 year with penalty (1.5% deduction if closed between 1-2 years, 1% after 2 years)
  • Scheme can be extended for 3 years after maturity by submitting application form

Government Backed

SCSS is backed by the Government of India, ensuring complete safety of your investment capital.

Regular Income

Get quarterly interest payments, perfect for managing regular expenses during retirement.

Tax Benefits

Enjoy tax deductions under Section 80C and exemption up to ₹50,000 under Section 80TTB.

Joint Account

Open account jointly with spouse with maximum investment limit of ₹30 lakhs for couple.

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