SCSS Calculator India 2026

It estimates the interest income and maturity value of the Senior Citizen Savings Scheme (SCSS) from the investment amount, tenure, and SCSS interest rate, helping you plan stable quarterly income in ₹ under a government-backed scheme. It's an estimate — the actual payout depends on the official SCSS rates and rules on your deposit date.

SCSS's rate is notified quarterly by the Government of India (8.2% per annum, payable quarterly, as of Q2 FY 2026-27). Use the rate shown above, and confirm the latest rate at your bank or post office before investing.

Yes, SCSS interest is fully taxable each year as per your income tax slab. Senior citizens can claim a deduction of up to ₹50,000 per year on total interest income (including SCSS) under Section 80TTB, which is separate from the Section 80C deduction available on the deposit itself.

Individuals aged 60+ can open an SCSS account; those aged 55-60 who have retired under a superannuation or VRS scheme may also be eligible, subject to conditions. Premature withdrawal is allowed after 1 year with a penalty that varies by the withdrawal timing — confirm current eligibility and penalty terms at your bank or post office.

Yes, once. SCSS can be extended for a further 3 years within 1 year of maturity, and this extension is allowed only once. The interest rate applicable during the extension period is the rate notified at the time of extension, not the original rate.