What is the current SCSS interest rate?

The SCSS interest rate is currently 8.2% p.a. Interest is paid quarterly. The relevant rate and plan conditions will be applied during the investment period and a ₹5 lakh deposit will earn ₹41,000 per year or ₹10,250 quarterly.

How much interest does ₹5 lakh earn under SCSS?

An investment of ₹5 lakh in SCSS at 8.2% p.a. yields ₹41,000 per annum. Interest paid every quarter is ₹10,250. Assuming that the rate does not change during the five years, the total interest received would be ₹2.05 lakh.

What is the quarterly interest on ₹10 lakh in SCSS?

A ₹10 lakh investment in SCSS at 8.2% p.a. will give you ₹82,000 per annum. This amount spread over 4 quarters will be ₹20,500 every quarter. The entire interest received over 5 years will be ₹4.10 lakh before tax.

What is the maturity amount of SCSS?

The normal maturity period for SCSS is 5 years. If ₹15 lakh is invested, the principal amount of ₹15 lakh is paid at maturity and the interest is paid quarterly. If the rate remains the same, the total interest over five years would be ₹6.15 lakh at 8.2% p.a.

Does SCSS interest compound quarterly?

No. SCSS interest is paid quarterly and is not added to the principal for subsequent interest calculations. A deposit of ₹5 lakh gets ₹10,250 every quarter at 8.2% p.a. Over 20 quarters this amounts to ₹2.05 lakh interest.

What is the total interest on ₹30 lakh in SCSS?

If you invest ₹30 lakh in SCSS at 8.20% p.a., you will get an interest of ₹2.46 lakh every year. This comes to ₹61,500 per quarter. The entire interest accrued at the end of the normal period of 5 years would be ₹12.30 lakh and the principal at maturity would remain ₹30 lakh.

How does the SCSS Calculator calculate interest?

The calculator allows you to calculate the interest based on your deposit amount, interest rate and duration. For example, if you deposit ₹10 lakh at 8.20% p.a. earns ₹82,000 a year. So, interest every quarter is ₹20,500 and the total interest that you will end up receiving over five years is ₹4.10 lakh.

Can the SCSS Calculator calculate returns for different amounts?

SCSS calculator shows interest gained on deposit, based on deposit amount, interest rate and tenure. You get ₹2.05 lakh interest on a deposit of ₹5 lakh for 5 years at 8.20% p.a. Also at the same time you will get ₹6.15 lakh for a ₹15 lakh deposit.

SCSS Calculator

An SCSS calculator helps estimate quarterly interest, total interest earned and maturity amount on an SCSS investment. Enter your investment amount and applicable interest rate to determine your predicted returns over a five-year period. Interest is paid quarterly and principal upon maturity. The current SCSS interest rate is 8.2% p.a.

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How SCSS Interest is Calculated

An SCSS calculator estimates interest on deposit amount, appropriate interest rate and tenure. The calculation is done on simple interest since the interest on the Senior Citizen Savings Scheme is paid quarterly and it is not compounded to the principal.

Annual Interest = P × r

Quarterly Interest = (P × r) ÷ 4

Total Interest = P × r × t

Where:

P = Principal amount
r = Annual interest rate
t = Tenure in years

Suppose ₹7,00,000 is invested in SCSS for 5 years at 8.2% p.a.

Annual Interest = ₹7,00,000 × 0.082 = ₹57,400
Quarterly Interest = ₹57,400 ÷ 4 = ₹14,350
Total Interest = ₹57,400 × 5 = ₹2,87,000

The interest is paid quarterly and is not compounded for the purpose of calculating further interest. Thus the maturity principal is ₹ 7,00,000. Interest earned in 5 years = 2,87,000.

A deposit of ₹7 lakh at 8.2% p.a. will earn ₹14,350 interest per quarter and ₹2.87 lakh total interest after five years, providing the rate maintains the same during this period.

Note: The examples assume full quarterly periods and a constant 8.2% rate for the five-year calculation. The first interest payment may vary based on the date of deposit.

SCSS Maturity Amount Examples

The following examples assume an SCSS interest rate of 8.2% p.a. and a five-year tenure. SCSS interest is credited every quarter. No interest is to be added to the principal. The total interest earned is calculated as:

Total Interest = Principal × 8.2% × 5

Investment Amount	Annual Interest	Quarterly Interest	Total Interest in 5 Years	Maturity Amount
₹5 lakh	₹41,000	₹10,250	₹2,05,000	₹5,00,000
₹10 lakh	₹82,000	₹20,500	₹4,10,000	₹10,00,000
₹15 lakh	₹1,23,000	₹30,750	₹6,15,000	₹15,00,000
₹30 lakh	₹2,46,000	₹61,500	₹12,30,000	₹30,00,000

Note: The original principal is payable upon maturity. Interest on the SCSS is paid quarterly and is not added to the deposit. The total interest paid in the table is the total interest received over the five year period.

How to Use the SCSS Calculator

SCSS calculator allows users to calculate the predicted interest and maturity amount by entering deposit details as follows:

Open the SCSS Calculator: Open up the calculator and enter the details.
Enter the Investment Amount: Enter the amount that you want to invest in SCSS. The amount should be the one allowed for investment.
Enter Interest Rate: Enter the applicable SCSS interest rate. The rate is periodically amended by the Government so utilise the rate appropriate to your deposit.
Select the Tenure: Specify the investment period. SCSS has an initial term of 5 years which can be extended by 3 years normally according to the scheme conditions.
Calculate the Returns: Click on the “Calculate” button to know the interest and maturity amount calculated based on the parameters supplied.
Compare Different Scenarios: Change the investment amount, interest rate or tenure to see how different inputs affect expected SCSS returns.

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How the SCSS Calculator Helps You

The SCSS calculator provides an estimate of the quarterly interest and total maturity value to simplify return calculations and reduce the chance of errors that may occur with manual calculations. It also saves time since it gives you results in seconds as per your entered investment amount, interest rate and tenure.

The calculator can be used for retirement planning to allow the elderly citizen to estimate the monthly interest income and maturity proceeds. It also helps to compare different investment amounts and tenures in terms of SCSS returns.

Key Rules to Consider Before Investing in SCSS

While working with the calculator there are some important regulations of SCSS that you should be aware of since they can change the expected interest and maturity amount:

Eligibility: SCSS is open to Indian residents who are 60 years and above. Retired persons in the age group of 55-60 years may also invest, subject to the appropriate rules and defined time restriction following retirement payments.
Investment Limit: The minimum investment is ₹1,000 while the maximum limit is ₹30 lakh, whether invested singly or jointly.
Duration and Extension: The initial term of SCSS is 5 years. On maturity the account may be renewed for a further term of 3 years.
Early Withdrawal: Early closure is permitted after 1 year with a penalty. After 1 year if you close your investment the penalty is 1.5% of the deposit amount. After 2 years the penalty is 1%.
Tax Benefits: Investments in SCSS are eligible for deduction under Section 123 of the Income Tax Act, 2025 (previously Section 80C) read with Schedule XV subject to the relevant criteria. The deduction is available as per relevant tax regime and the total deduction limit is ₹1.5 lakh.

FAQs

What is the current SCSS interest rate?

The SCSS interest rate is currently 8.2% p.a. Interest is paid quarterly. The relevant rate and plan conditions will be applied during the investment period and a ₹5 lakh deposit will earn ₹41,000 per year or ₹10,250 quarterly.
How much interest does ₹5 lakh earn under SCSS?

An investment of ₹5 lakh in SCSS at 8.2% p.a. yields ₹41,000 per annum. Interest paid every quarter is ₹10,250. Assuming that the rate does not change during the five years, the total interest received would be ₹2.05 lakh.
What is the quarterly interest on ₹10 lakh in SCSS?

A ₹10 lakh investment in SCSS at 8.2% p.a. will give you ₹82,000 per annum. This amount spread over 4 quarters will be ₹20,500 every quarter. The entire interest received over 5 years will be ₹4.10 lakh before tax.
What is the maturity amount of SCSS?

The normal maturity period for SCSS is 5 years. If ₹15 lakh is invested, the principal amount of ₹15 lakh is paid at maturity and the interest is paid quarterly. If the rate remains the same, the total interest over five years would be ₹6.15 lakh at 8.2% p.a.
Does SCSS interest compound quarterly?

No. SCSS interest is paid quarterly and is not added to the principal for subsequent interest calculations. A deposit of ₹5 lakh gets ₹10,250 every quarter at 8.2% p.a. Over 20 quarters this amounts to ₹2.05 lakh interest.
What is the total interest on ₹30 lakh in SCSS?

If you invest ₹30 lakh in SCSS at 8.20% p.a., you will get an interest of ₹2.46 lakh every year. This comes to ₹61,500 per quarter. The entire interest accrued at the end of the normal period of 5 years would be ₹12.30 lakh and the principal at maturity would remain ₹30 lakh.
How does the SCSS Calculator calculate interest?

The calculator allows you to calculate the interest based on your deposit amount, interest rate and duration. For example, if you deposit ₹10 lakh at 8.20% p.a. earns ₹82,000 a year. So, interest every quarter is ₹20,500 and the total interest that you will end up receiving over five years is ₹4.10 lakh.
Can the SCSS Calculator calculate returns for different amounts?

SCSS calculator shows interest gained on deposit, based on deposit amount, interest rate and tenure. You get ₹2.05 lakh interest on a deposit of ₹5 lakh for 5 years at 8.20% p.a. Also at the same time you will get ₹6.15 lakh for a ₹15 lakh deposit.

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