What is the current SBI SCSS interest rate?

The current SBI SCSS interest rate is 8.20% p.a. for July to September 2026. SBI states that interest is paid quarterly as per the directions of the Government of India under the applicable scheme rules and the rate of 8.20% is applicable from 1 April 2023.

How much quarterly interest does ₹10 lakh earn in SBI SCSS?

SBI Senior Citizen Savings Scheme deposit of ₹10 lakh gives ₹82,000 per annum at 8.20% p.a. This is divided into 4 quarters i.e. quarterly payout is ₹20,500. This is calculated on the basis of the deposit being invested at the applicable rate for the whole tenure as per current SCSS rules and conditions.

What is the maximum SBI SCSS deposit?

SBI allows a maximum SCSS deposit of ₹30 lakh. Deposits can start from ₹1,000 and must be made in multiples of ₹1,000. At 8.20% p.a., a ₹30 lakh deposit earns ₹2.46 lakh annually, before applicable tax deductions under the scheme rules for deposits.

What is the minimum SBI SCSS deposit?

The minimum deposit in SBI SCSS is ₹1,000 and deposits are accepted in multiples of ₹1,000. At 8.20% p.a., a ₹1,000 deposit corresponds to ₹82 of annual interest before applicable tax, depending on the applicable SCSS interest rate under SBI rules of the account.

How often is SBI SCSS interest paid?

SBI SCSS interest is paid quarterly. At the current 8.20% p.a. rate, a ₹5 lakh deposit earns ₹41,000 annually, resulting in ₹10,250 per quarter. SBI also states that interest not claimed by the account holder does not earn additional interest under scheme rules.

What is the tenure of SBI SCSS?

The SBI SCSS minimum tenure is 5 years. The account can be extended for a further period of 3 years after the maturity by filling Form-4 within 1 year from maturity date subject to applicable SCSS rules and regulations.

Can SBI SCSS be extended after maturity?

Yes. An SCSS account can be extended for an additional 3 years after the initial 5 years with SBI. As per the applicable SCSS guidelines, the account holder has to submit Form-4 within one year from the date of maturity.

Can SBI SCSS be closed before maturity?

Yes. SBI allows premature closure of a Senior Citizen Savings Scheme account subject to the applicable conditions and penalties. If the account is closed before one year, the interest already paid is recovered. If closed after one year but before two years, 1.5% of the deposit is deducted. If closed after two years, 1% of the deposit is deducted.

SBI SCSS Interest Rate and Returns

The SBI SCSS interest rate is 8.20% p.a. for July to September 2026. The interest is paid quarterly. The rate is notified by the Government of India and is applicable to SCSS deposits as per the prevailing scheme rules.

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Current SBI SCSS Interest Rate (July to September 2026)

The current SBI SCSS interest rate and payment frequency are given below:

Particular	Details
SBI SCSS Interest Rate	8.20% p.a.
Interest Payment	Quarterly
Rate Effective From	1 April 2023
Rate Prescribed By	Government of India

*The SBI SCSS interest rate is effective from 1st April 2023.

SCSS Interest Rate History

The SCSS interest rate has changed at different intervals since the scheme was introduced. The historical rates are given below:

Period	Interest Rate (p.a.)
02-08-2004 to 31-03-2012	9.00%
01-04-2012 to 31-03-2013	9.30%
01-04-2013 to 31-03-2015	9.20%
01-04-2015 to 31-03-2016	9.30%
01-04-2016 to 30-09-2016	8.60%
01-10-2016 to 31-03-2017	8.50%
01-04-2017 to 30-06-2017	8.40%
01-07-2017 to 30-09-2018	8.30%
01-10-2018 to 30-06-2019	8.70%
01-07-2019 to 31-03-2020	8.60%
01-04-2020 to 30-09-2022	7.40%
01-10-2022 to 31-12-2022	7.60%
01-01-2023 to 31-03-2023	8.00%
01-04-2023 to 30-09-2026	8.20%

SCSS interest rates as of 5th September 2026.

How Interest Is Calculated and Paid

You can calculate the SBI SCSS interest depending on the deposit amount and interest rate applicable for a year.

Annual Interest = Deposit Amount × 8.20%

Indicative quarterly interest for a full quarter = Annual Interest ÷ 4

For example, suppose ₹12 lakh is deposited in an SBI SCSS account at 8.20% p.a.

Annual interest = ₹12,00,000 × 8.20% = ₹98,400

Quarterly interest = ₹98,400 ÷ 4 = ₹24,600

So, a deposit of ₹12 lakh will earn ₹24,600 per quarter at the given rate, before any applicable tax deduction at source (TDS).

SBI SCSS Interest on Different Deposit Amounts

The table below shows the annual and quarterly interest on different deposit amounts at 8.20% p.a. The calculations assume that the deposit remains invested at the stated rate and is not closed prematurely.

Deposit Amount	Annual Interest at 8.20%	Quarterly Interest
₹1,00,000	₹8,200	₹2,050
₹5,00,000	₹41,000	₹10,250
₹10,00,000	₹82,000	₹20,500
₹12,00,000	₹98,400	₹24,600
₹20,00,000	₹1,64,000	₹41,000
₹30,00,000	₹2,46,000	₹61,500

These figures are for illustration and do not account for any tax deduction. TDS on SCSS interest is applicable as per the prevailing income-tax provisions.

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Estimate Returns Using the SCSS Calculator

With the SCSS Calculator, you may calculate the interest earned on your Senior Citizens’ Savings Scheme investment on a quarterly basis and the total amount of your deposit. Use the calculator by entering a deposit amount, rate of interest and investment duration in years. The calculator will show the total deposit amount and the quarterly interest. SBI informs that the indicated interest amount is illustrative and may vary depending on the interest rate advised by the government from time to time.

FAQs

What is the current SBI SCSS interest rate?

The current SBI SCSS interest rate is 8.20% p.a. for July to September 2026. SBI states that interest is paid quarterly as per the directions of the Government of India under the applicable scheme rules and the rate of 8.20% is applicable from 1 April 2023.
How much quarterly interest does ₹10 lakh earn in SBI SCSS?

SBI Senior Citizen Savings Scheme deposit of ₹10 lakh gives ₹82,000 per annum at 8.20% p.a. This is divided into 4 quarters i.e. quarterly payout is ₹20,500. This is calculated on the basis of the deposit being invested at the applicable rate for the whole tenure as per current SCSS rules and conditions.
What is the maximum SBI SCSS deposit?

SBI allows a maximum SCSS deposit of ₹30 lakh. Deposits can start from ₹1,000 and must be made in multiples of ₹1,000. At 8.20% p.a., a ₹30 lakh deposit earns ₹2.46 lakh annually, before applicable tax deductions under the scheme rules for deposits.
What is the minimum SBI SCSS deposit?

The minimum deposit in SBI SCSS is ₹1,000 and deposits are accepted in multiples of ₹1,000. At 8.20% p.a., a ₹1,000 deposit corresponds to ₹82 of annual interest before applicable tax, depending on the applicable SCSS interest rate under SBI rules of the account.
How often is SBI SCSS interest paid?

SBI SCSS interest is paid quarterly. At the current 8.20% p.a. rate, a ₹5 lakh deposit earns ₹41,000 annually, resulting in ₹10,250 per quarter. SBI also states that interest not claimed by the account holder does not earn additional interest under scheme rules.
What is the tenure of SBI SCSS?

The SBI SCSS minimum tenure is 5 years. The account can be extended for a further period of 3 years after the maturity by filling Form-4 within 1 year from maturity date subject to applicable SCSS rules and regulations.
Can SBI SCSS be extended after maturity?

Yes. An SCSS account can be extended for an additional 3 years after the initial 5 years with SBI. As per the applicable SCSS guidelines, the account holder has to submit Form-4 within one year from the date of maturity.
Can SBI SCSS be closed before maturity?

Yes. SBI allows premature closure of a Senior Citizen Savings Scheme account subject to the applicable conditions and penalties. If the account is closed before one year, the interest already paid is recovered. If closed after one year but before two years, 1.5% of the deposit is deducted. If closed after two years, 1% of the deposit is deducted.

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