Post Office Senior Citizen Scheme Interest Calculator

The Government of India has specially curated a scheme for senior citizens (above 55 years of age). This scheme helps manage expenses after a person retires. Applicants can use the online Post office senior citizen interest calculator before investing in the scheme.

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What is the Post Office Senior Citizen Scheme?

The Post Office Senior Citizen Scheme acts as an investment option for senior citizens, gaining more than 7% interest on their investment. In addition, this scheme has a maturity period of 5 years that allows its investors to reap the benefits early. 

Besides multiple features and benefits, investors can also use the scheme’s online calculator to customize and know plan details beforehand.

What is the Post Office Senior Citizen Scheme Interest Calculator?

Post Office Senior Citizen Scheme interest calculator is an online financial tool that helps you calculate returns over a specific period. You can enter different principal amounts, policy tenure, and rates of interest to know your investment details. This calculator utilizes algorithms that provide accurate information. 

How to Use Online Calculator?

Using the Post Office Senior Citizen Scheme interest calculator allows the investors to estimate the interest rate on the principal investment. You can easily use the tool by visiting the website and choosing the scheme of whose returns you want to calculate. 

Feed-in the essential information to get further details. Post Office Senior Citizen Scheme interest calculator will ask you to provide the following information to compute the amount:

  • Investment amount 

  • Rate of interest

  • Maturity period

Click on calculate. You will get a total breakup of the returns that you gain. This break will consist of the amount you invest, the interest earned over the amount, and the full maturity amount you get. 

Example: Suppose you invest Rs. 1000 per month for the tenure of 90 months. The rate of interest is 8.00%. The breakup of maturity amount that you get will be as follows:

  • Investment amount: Rs 90,000

  • Interest earned: Rs 33,323.39

  • Maturity amount: Rs 1,23,323.39

Benefits of Using Post Office Senior Citizen Scheme Interest Calculator

You can get the following benefits after using the Post Office Senior Citizen Scheme interest calculator:

  • Free to you

  • Calculate returns based on input values

  • Error-free and quick results

  • Easy to use online on the official website

Features of Post Office Senior Citizen Savings Scheme

Following listed are the features of investing in the post office senior citizen savings scheme: 

  1. Multiple accounts allowed

    Investors can invest in the scheme individually or jointly with their spouses. Even if only one spouse is a senior citizen, both account holders can still use this scheme. Their joint account balance must not exceed the limit of Rs. 15 Lacs. 

    If one individual wishes to invest in the system through multiple accounts, they can do so. The collective balance of all the funds must not exceed the limit of Rs. 15 Lacs. 

  2. Nomination facility

    While opening up, the account senior citizens can nominate anyone as their nominee for the investment scheme. The investor can avail of the nominee facility by filling up Form C while opening the account. 

  3. Premature closure

    There is a 5-year lock-in period on the scheme. The investor can close the account at any time. However, a penalty for premature withdrawal is levied as mentioned below.

    • Before 1 year, no interest is paid to the investors

    • Between 1 to 2 years, deduction equals 1.5% from the principal amount

    • Between 2 to 5 years, deduction equals 1% from the principal amount

    After the maturity period (5 years) of the account is over, the investor can get a three-year extension period. No deductions are made if the investor closes the account after one year of the extension period.

  4. Easily transferrable

    Investors can quickly transfer the account from one post office to another. It is a quick and easy process, which is available both offline and online.

  5. Tax benefits

    Investors can claim tax rebates under the Income Tax Act, 1961, Section 80 C on the invested amount. However, tax benefits are subject to changes in the Indian taxation rules/ laws.

Final Words!

Post Office Senior Citizen Scheme interest calculator can help you plan your finances in an easy and accurate manner. Once you get the idea about the amount you may receive upon policy maturity, you can increase or decrease the amount per affordability. You can even plan future investments or financial goals by knowing plan details beforehand.


  • Do I need to enter personal information while using the Post Office Senior Citizen Scheme interest calculator? 

    No, you do not need to feed in any personal information like your name or phone number. All you need to do is put in the amount you will be investing with the tenure and the interest rate. The website won't store any of the information you feed into the calculator. 
  • Is there any limit on the number of times I can use the Post Office Senior Citizen Scheme calculator?

    No, there is a limit on the number of times you can use the calculator. You can use it as many times as you want. However, it is advised to use the calculator before making a financial commitment. It is so that you make a better decision for yourself. 
  • Do I need to have the financial expertise to use the Post Office Senior Citizen Scheme interest calculator?

    No, you need not have the financial expertise to use the calculator. The calculator is designed with the algorithm that does the arithmetic for you. You do not need to feed in any formula for computing. You will get an accurate result every time you use the calculator.
  • What are the minimum and the maximum age limits to invest in the Post Office Senior Citizen Scheme?

    Your minimum age should be 55 years, and the maximum should not exceed 60 years to avail of this scheme. You can open jointly with the spouse if the spouse fulfills the age criteria. You both will get the benefits of the scheme. With your spouse named as a depositor of the scheme. 
  • Is the interest earned on the Post Office Senior Citizen Saving Scheme is simple or compound?

    Interest that you earn on the investment under the post office senior citizen saving scheme is the compound interest rate. It is revised regularly in each quarter. 
  • How to open the Post Office Senior Citizen Scheme account?

    The form for the Post Office Senior Citizen Scheme is available offline only. Therefore, you need to visit the post office, duly fill out the form and submit it with the required documents such as ID proof, address proof, age proof, etc., along with the deposit amount.

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