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Calculate Senior Citizen Savings Scheme quarterly interest, total returns, and extension benefits
Min: ₹1,000 | Max: ₹30,00,000
Current SCSS rate: 8.200000000000001% (Q1 FY 2025-26)
Investment
₹15,00,000
Quarterly Interest
₹30,750
Total Interest (5Y)
₹6,15,000
Maturity Amount
₹15,00,000
Annual Interest
₹1,23,000
80C Benefit
₹1,50,000
Extension Interest (3Y)
₹3,69,000
₹30,750
Interest is credited quarterly on 31st March, 30th June, 30th September, and 31st December.
Account can be extended for 3 more years after initial 5-year tenure. During extension, you can earn an additional ₹3,69,000 in interest.
Senior Citizen Savings Scheme (SCSS) is a government-backed savings instrument designed exclusively for senior citizens aged 60 years and above. It offers one of the highest interest rates among small savings schemes, with quarterly interest payouts providing a regular income stream.
8.2% per annum (compounded quarterly)
5 Years (extendable by 3 years)
₹1,000 / ₹30,00,000
Quarterly (31 Mar, 30 Jun, 30 Sep, 31 Dec)
60+ years (55+ for VRS retirees)
Eligible in first year
Allowed with spouse only
Allowed with 1-1.5% penalty
Interest taxable; TDS above ₹50,000/year
After the initial 5-year maturity, the account can be extended once for a block of 3 years. The extension must be applied for within 1 year of maturity. Interest rate applicable at the time of extension will be applied.
Closure before 1 year: No interest. Closure after 1 year but before 2 years: 1.5% deduction. Closure after 2 years: 1% deduction from deposit. No penalty on interest already paid.
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