SCSS Calculator (Senior Citizens' Savings Scheme)
Quarterly interest from the Senior Citizens' Savings Scheme at the Oct-Dec 2026 rate of 8.2%, up to the ₹30 lakh limit, with the rate history since 2004.
The Senior Citizens Savings Scheme interest rate for Oct-Dec 2026 is 8.2%, unchanged since April 2023 (it was 8.0% before that). The maximum ₹30 lakh pays ₹61,500 every quarter (₹2,46,000 a year) for 5 years.
The words on this page, explained simply
New to this? Here is what each term means, in plain English.
- SCSS (Senior Citizens' Savings Scheme)
- A 5-year government deposit for people aged 60 and over, paying interest every three months. Up to ₹30 lakh.
- Compounded quarterly
- Interest is added every three months and then itself earns interest, so the real yearly gain is a little more than the stated rate.
- Small savings rate
- The interest rate the Ministry of Finance sets every quarter for post office schemes such as PPF, SSY, NSC and SCSS. Most schemes lock it in when you open; PPF and SSY use each quarter's rate.
- Section 80C (now section 123)
- An income-tax rule that lets you cut your taxable income by up to ₹1.5 lakh a year for money put into PPF, EPF, ELSS funds, 5-year post office deposits and similar. Called section 80C in the 1961 Act and section 123 in the Income-tax Act, 2025 (from April 2026). Old tax regime only.
- Tax slab
- The income-tax rate for your income band. Dividends are added to your income and taxed at your slab rate.
The Senior Citizens' Savings Scheme (SCSS) is a 5-year government deposit for people aged 60 and over. Interest is paid every quarter, on the first working day of April, July, October and January, and the rate you open at stays fixed for the term.
Income from SCSS
| Deposit | Every quarter | Per month (average) | A year |
|---|---|---|---|
| ₹5,00,000 | ₹10,250 | ₹3,417 | ₹41,000 |
| ₹10,00,000 | ₹20,500 | ₹6,833 | ₹82,000 |
| ₹15,00,000 | ₹30,750 | ₹10,250 | ₹1,23,000 |
| ₹30,00,000 | ₹61,500 | ₹20,500 | ₹2,46,000 |
SCSS interest rate history
| Period | Interest rate |
|---|---|
| 1 Apr 2023 to now | 8.2% |
| 1 Jan 2023 to 31 Mar 2023 | 8.0% |
| 1 Oct 2022 to 31 Dec 2022 | 7.6% |
| 1 Apr 2020 to 30 Sep 2022 | 7.4% |
| 1 Jul 2019 to 31 Mar 2020 | 8.6% |
| 1 Oct 2018 to 30 Jun 2019 | 8.7% |
| 1 Jul 2017 to 30 Sep 2018 | 8.3% |
| 1 Apr 2017 to 30 Jun 2017 | 8.4% |
| 1 Oct 2016 to 31 Mar 2017 | 8.5% |
| 1 Apr 2016 to 30 Sep 2016 | 8.6% |
| 1 Apr 2015 to 31 Mar 2016 | 9.3% |
| 1 Apr 2013 to 31 Mar 2015 | 9.2% |
| 1 Apr 2012 to 31 Mar 2013 | 9.3% |
| 2 Aug 2004 to 31 Mar 2012 | 9.0% |
Rates from the National Savings Institute (Ministry of Finance) rate history and India Post's current rates; the Oct-Dec 2026 rates were confirmed by the Ministry of Finance memorandum of 30 September 2026.
Who can open it and the limits
Anyone aged 60 or more; or 55 to 60 if retired under superannuation, VRS or special VRS; retired defence personnel (excluding civilian defence employees) from 50, subject to conditions. Single, or jointly with your spouse.
Minimum ₹1,000, maximum ₹30 lakh. The account can be closed after 5 years or extended once by 3 years. Premature closure is allowed with conditions.
Tax
Deposits qualify for the section 80C/123 deduction in the old tax regime. The interest is taxed at your slab rate.
Key takeaways
- SCSS pays 8.2% for Oct-Dec 2026, every quarter, for 5 years (+3 optional).
- For 60+ (55+ if retired under VRS/superannuation); limit ₹30 lakh.
- 80C/123 on the deposit (old regime); interest taxable.
Frequently asked questions
What is the SCSS interest rate now?
8.2% a year for Oct-Dec 2026, paid quarterly, unchanged since April 2023.
How much interest does ₹30 lakh earn in SCSS?
₹61,500 a quarter, or ₹2,46,000 a year, at 8.2%.
Who can invest in SCSS?
People aged 60 or more; those aged 55-60 who retired under superannuation or VRS; retired defence personnel from 50, with conditions.
Is SCSS interest paid monthly?
No, quarterly. For monthly income, the post office MIS pays every month.