Calculate quarterly interest, annual income, post-tax returns, and maturity amount for Senior Citizen Savings Scheme (SCSS). Works for both Post Office and SBI SCSS accounts. Current rate: 8.2% p.a.
🏠 Rate: 8.2% p.a. (Q1 FY 2026-27)💸 Quarterly Interest — Apr/Jul/Oct/Jan✅ Max ₹30 Lakh per Account📋 5 Year Tenure + 3 Year Extension📈 Post-Tax Return Calculator🏠 Post Office & All Public Banks
SCSS Calculator Post Office 2026
Your SCSS Returns
Enter deposit amount and SCSS details. Quarterly interest income, annual income, and 5-year total shown instantly.
💸 SCSS Deposit Details
₹20.00 L
₹1,000 (Min)₹30,00,000 (Max)
8.20%
6.0%10.0%
5 years
5 yrs (Base)8 yrs (Extended)
💸 Current SCSS Rate: 8.2% p.a. (Q1 FY 2026-27, Apr–Jun 2026). Reviewed quarterly by Ministry of Finance. Interest paid on 1st April, 1st July, 1st October, and 1st January.
📋 Deposit & Tax Details
₹20.00 L
₹1,000₹30,00,000
8.20%
6%10%
📋 Your Income Tax Slab
⚠ SCSS interest is taxable at slab rate. TDS @ 10% if annual interest > ₹50,000. Submit Form 15H if total income below taxable limit to avoid TDS.
👥 Combined SCSS for Couple
₹25.00 L
₹1,000₹30,00,000
₹25.00 L
₹1,000₹30,00,000
8.20%
6%10%
✅ Couple Strategy: Each spouse can open a separate SCSS account up to ₹30L each = combined ₹60L maximum investment. Total combined quarterly income and annual income shown below.
💸 Quarterly Interest Income
₹0
per quarter (every 3 months)
📅 Paid on: 1st April | 1st July | 1st October | 1st January
Exact quarterly interest, annual income, and 5-year total interest for different SCSS deposit amounts at current rate of 8.2% p.a. Interest is simple (not compounded) — paid quarterly.
Deposit Amount
Quarterly Interest
Monthly Equivalent
Annual Interest
5-Year Total Interest
8-Year Total Interest (if extended)
₹1 Lakh
₹2,050
₹683
₹8,200
₹41,000
₹65,600
₹2 Lakh
₹4,100
₹1,367
₹16,400
₹82,000
₹131,200
₹3 Lakh
₹6,150
₹2,050
₹24,600
₹123,000
₹196,800
₹5 Lakh
₹10,250
₹3,417
₹41,000
₹205,000
₹328,000
₹10 Lakh
₹20,500
₹6,833
₹82,000
₹410,000
₹656,000
₹15 Lakh
₹30,750
₹10,250
₹123,000
₹615,000
₹984,000
₹20 Lakh
₹41,000
₹13,667
₹164,000
₹820,000
₹1,312,000
₹25 Lakh
₹51,250
₹17,083
₹205,000
₹1,025,000
₹1,640,000
₹30 Lakh
₹61,500
₹20,500
₹246,000
₹1,230,000
₹1,968,000
Interest is calculated as simple interest on the principal deposit. Maximum deposit: ₹30 lakh per individual account. Married couples can each open separate accounts — combined maximum ₹60 lakh, generating ₹2,46,000 per quarter (₹9,84,000/year) at maximum combined deposit of ₹60L. SCSS interest is paid directly to linked savings bank account on 1st of each quarter. TDS @ 10% deducted if annual interest exceeds ₹50,000 — submit Form 15H to avoid TDS if income is below taxable limit.
📋 SCSS Post-Tax Return Calculator — Effective Yield at Different Tax Slabs
SCSS interest is taxable. Actual post-tax yield depends on your income tax slab. Many senior citizens can reduce or eliminate tax with proper planning. ₹20 lakh deposit shown.
Tax Slab
Gross Annual Interest ₹20L deposit @ 8.2%
Tax on Interest
Net Annual Interest
Effective Post-Tax Yield
vs Bank FD Post-Tax @ 7.5% (same slab)
0% (Form 15H — nil income)
₹1,64,000
₹0
₹1,64,000
8.20%
+0.70% vs FD
5% slab (income ₹4–8L)
₹1,64,000
₹8,528
₹1,55,472
7.77%
+0.65%
10% slab (income ₹8–12L)
₹1,64,000
₹17,056
₹1,46,944
7.35%
+0.60%
15% slab (income ₹12–16L)
₹1,64,000
₹25,584
₹1,38,416
6.92%
+0.54%
20% slab (income ₹16–20L)
₹1,64,000
₹34,112
₹1,29,888
6.49%
+0.47%
30% slab (income above ₹24L)
₹1,64,000
₹51,168
₹1,12,832
5.64%
+0.37%
Tax includes 4% cess on income tax. SCSS still outperforms comparable bank FD (7.5%) at every tax slab — by 0.37% to 0.70% post-tax. Senior citizens get a special 80TTB deduction of ₹50,000 on bank/post office interest — effectively making first ₹50,000 of SCSS interest tax-free at any slab. Planning tip: If your total income (including SCSS interest) stays below ₹7 lakh (new regime), 87A rebate makes total tax zero — meaning SCSS interest is effectively tax-free at 8.2%.
⚖ SCSS vs FD vs POMIS vs RBI Bonds — Best for Senior Citizens 2026
Complete comparison of guaranteed-income instruments available to senior citizens in India. SCSS leads on rate — here's how each fits different needs.
✅ Highest Guaranteed Rate
🏠
SCSS
8.2% p.a.
InterestQuarterly
Tenure5+3 years
Max Deposit₹30L/person
80C DeductionYes (deposit)
Tax on InterestYes (slab rate)
🏠
Post Office MIS
7.4% p.a.
InterestMonthly
Tenure5 years
Max Deposit₹9L (joint ₹15L)
80C DeductionNo
Tax on InterestYes (slab rate)
📈
SBI Senior Citizen FD
7.5–8.1%
InterestMonthly/Quarterly
Tenure7 days–10 years
Max DepositNo limit
80C Deduction5-yr FD only
Tax on InterestYes (slab rate)
📋
RBI Floating Rate Bonds
8.05% (Jul 2026)
InterestSemi-annual
Tenure7 years
Max DepositNo limit
80C DeductionNo
Tax on InterestYes (slab rate)
🏠
PPF
7.1% p.a.
InterestAnnual (credited)
Tenure15 years (extendable)
Max Deposit₹1.5L/year
80C DeductionYes (annual)
Tax on InterestEEE — Tax-Free
📋
PMVVY
7.4% (existing only)
InterestMonthly option
StatusClosed to new (Mar 2023)
Max Deposit₹15L
80C DeductionNo
Tax on InterestYes (slab rate)
🏠 Pocket Wealth Verdict for Senior Citizens: SCSS is the first priority — highest guaranteed rate (8.2%), government-backed, 80C deduction on deposit. After maxing SCSS (₹30L or ₹60L for couple), add RBI Floating Rate Bonds (no cap, 8.05%) for additional guaranteed income. For monthly income need, combine SCSS (quarterly) + POMIS (monthly) + bank FD (monthly interest option). PPF is excellent if you still have 15 years and don't need regular income. Avoid PMVVY (closed to new subscribers).
💡 4 Smart SCSS Strategies for Senior Citizens
Maximise SCSS income and minimise tax with these four key strategies.
👥
Both Spouses Open Separate SCSS — Double the Income
Each spouse can open a separate SCSS account up to ₹30 lakh each — giving a combined family maximum of ₹60 lakh. At 8.2% p.a., ₹60L generates ₹4,92,000/year (₹1,23,000/quarter) in guaranteed interest. The 80C deduction applies to each account separately — up to ₹1.5L per person per year. Tax-splitting between spouses also reduces effective tax rate: if one spouse has lower income (e.g., pension), more interest can be attributed to them at a lower tax slab. Open SCSS in both names even if you need to pool savings — the combined income capacity of ₹60L makes SCSS the cornerstone of senior citizen financial planning.
📋
Submit Form 15H Before April — Save TDS Every Year
If your total taxable income (including SCSS interest) is below the taxable threshold, submit Form 15H at your Post Office or bank branch every financial year in April. This prevents TDS (10%) from being deducted on SCSS interest above ₹50,000. Without Form 15H: ₹20L SCSS generates ₹1,64,000 annual interest — TDS of ₹16,400 deducted. With Form 15H: ₹1,64,000 credited fully. Even if you're in a tax slab, file Form 15H if advance tax planning shows your final liability will be zero (e.g., due to deductions). Also check: new tax regime allows no deductions but the 87A rebate makes income up to ₹7 lakh tax-free — at this income level, SCSS interest is effectively tax-free.
📅
Always Apply for 3-Year Extension Before Maturity Deadline
SCSS matures after 5 years — you can extend for 3 more years at the prevailing rate. The extension application must be submitted within 1 year of maturity. If you miss this window, the account earns only 4% p.a. (Post Office Savings Account rate) — a 4.2% drop. At ₹20L deposit: missing the extension deadline costs ₹84,000 in lost interest per year (the difference between 8.2% and 4% on ₹20L). Set a calendar reminder 6 months before SCSS maturity. The extension is simple — fill the extension form at your Post Office or bank. At extension, no additional deposit is allowed but full ₹30L original deposit earns 8.2% (or prevailing rate at extension time) for 3 more years.
🏠
Use SCSS + POMIS for Monthly Cash Flow
SCSS pays quarterly (April/July/October/January) — which leaves 2 months per quarter without income. For consistent monthly income, combine: SCSS (₹15–20L, quarterly income) + Post Office Monthly Income Scheme/POMIS (₹9L, monthly income) + Bank FD with monthly interest option (remaining savings). With ₹30L total: ₹20L in SCSS (quarterly) + ₹9L in POMIS (monthly) + ₹1L in liquid fund (emergency). Monthly cash flows: Jan/Apr/Jul/Oct: ₹41,000 (SCSS) + ₹5,550 (POMIS) = ₹46,550. Feb/Mar/May/Jun/Aug/Sep/Nov/Dec: ₹5,550 (POMIS only). The SCSS quarters can be used for quarterly expenses (insurance premiums, utilities quarterly bills, medical top-ups).
❓ SCSS Calculator — Frequently Asked Questions
Most searched SCSS questions for 2026 — answered with exact rates, limits, and rules.
The SCSS interest rate for Q1 FY 2026-27 (April–June 2026) is 8.2% per annum.
How interest is paid:
• Interest is paid quarterly — not monthly, not annually
• Payment dates: 1st April, 1st July, 1st October, 1st January each year
• Interest is credited directly to the linked savings bank account
• The interest is simple (not compounded) — only the principal earns interest
Rate history:
SCSS has maintained 8.2% since Q2 FY 2023-24. The rate is reviewed every quarter by the Ministry of Finance. As of July 2026, this is the highest rate among all government small savings schemes for senior citizens.
SCSS eligibility:
✅ Indian citizens aged 60 years or above
✅ Retired persons aged 55–60 who took VRS/superannuation — must open within 1 month of receiving retirement benefits
✅ Retired defence personnel aged 50 or above on retirement
❌ NRIs — NOT eligible
❌ HUFs — NOT eligible
Deposit limits:
Minimum: ₹1,000 (in multiples of ₹1,000)
Maximum per account: ₹30,00,000 (₹30 lakh) — enhanced in Budget 2023
One account per individual (joint account with spouse allowed — first holder must be senior citizen)
Couple strategy:
Husband: ₹30L separate SCSS + Wife: ₹30L separate SCSS = Combined ₹60L maximum
Annual interest at ₹60L = ₹60L × 8.2% = ₹4,92,000/year (₹1,23,000/quarter)
SCSS can be opened at all designated public sector banks and all Post Offices across India.
Authorised banks include:
SBI, Bank of Baroda, Punjab National Bank, Union Bank, Canara Bank, Bank of India, Indian Bank, UCO Bank, Central Bank, Bank of Maharashtra, Indian Overseas Bank, Punjab & Sind Bank
The interest rate is identical (8.2%) everywhere — Post Office vs SBI vs any other bank.
SBI SCSS advantages:
• Interest auto-credited to SBI savings account
• Management via YONO app (view balance, interest history)
• Wide branch network
• SBI senior citizen FD can be combined in the same branch
Post Office SCSS advantages:
• Available in rural/semi-urban areas where banks may not have branches
• India Post Payment Bank integration
• All post offices across India authorised
Account can be transferred from Post Office to bank or vice versa by submitting a transfer request at either branch.
SCSS interest is fully taxable at your income slab rate.
TDS rules:
TDS @ 10% deducted if annual SCSS interest > ₹50,000 (for senior citizens under Section 194A)
How to avoid TDS — Form 15H:
Submit Form 15H at Post Office/bank every April if your estimated total income for the year is below the taxable threshold. This stops TDS deduction.
Key deductions to reduce SCSS tax:
• 80TTB: ₹50,000 exemption on interest income for senior citizens
• 80D: Health insurance premium (up to ₹50,000 for senior citizens)
• 80C: ₹1.5L deduction on SCSS deposit itself
• 87A rebate: New regime — income up to ₹7L = zero tax effectively
Yes — SCSS can be extended for 3 additional years after the 5-year maturity, for a total of 8 years.
Extension rules:
• Application must be submitted within 1 year of maturity date
• Extension interest rate = prevailing SCSS rate at time of extension (not original rate)
• No additional deposit can be made during the extension period
• Premature closure during extension: allowed without penalty
• Only one extension allowed
What if you miss the 1-year window?
The account continues earning at Post Office Savings Account rate (4% p.a.) — a significant drop from 8.2%. At ₹20L deposit, missing the window costs ₹84,000/year in lost interest.
Extension calculation example:
₹20L SCSS opened 2021, matures 2026. Extension submitted 2026 at prevailing rate (8.2%). Account continues to 2029. Total interest (8 years) = ₹20L × 8.2% × 8 = ₹13,12,000
📌 Set a reminder 6 months before maturity to submit the extension application.
SCSS premature closure is allowed with penalties:
Before 1 year: No interest paid — all interest already credited is recovered After 1 year, before 2 years: 1.5% of deposit deducted After 2 years, before 5 years: 1% of deposit deducted
Example: ₹20L SCSS closed after 3 years
Penalty = ₹20,00,000 × 1% = ₹20,000
Quarterly interest already received: ₹41,000 × 12 quarters = ₹4,92,000 (retained)
Amount returned at closure: ₹20,00,000 − ₹20,000 (penalty) = ₹19,80,000
Death of account holder: Account can be closed without any penalty — full principal returned to nominee. If maturity has passed at time of death claim, interest at savings account rate applies from maturity date.
During extension period (Year 6, 7, 8): Premature closure allowed without penalty — this is a key flexibility advantage of the extension.
Recommendation: Avoid premature closure for the first 2 years — the 1.5% penalty is significant. After 2 years, the 1% penalty is more manageable if funds are urgently needed.
For most senior citizens in 2026: SCSS first, then RBI Bonds, then POMIS/FD
SCSS (8.2%): Choose when —
✅ You need highest guaranteed rate (government-backed)
✅ Quarterly income is acceptable (you plan cash flows quarterly)
✅ You can invest at least ₹1,000 up to ₹30L
✅ 5-year lock-in is acceptable
✅ You want 80C deduction on the deposit
Post Office MIS/POMIS (7.4%): Choose when —
✅ You need monthly income (unlike SCSS which is quarterly)
✅ Amount available is under ₹9L (max limit)
✅ Ideal to supplement SCSS for monthly cash flow
Bank Senior Citizen FD (7.5–8.1%): Choose when —
✅ You need flexible tenure (not fixed 5 years)
✅ You want monthly interest payment option
✅ Amount exceeds SCSS ₹30L limit
RBI Floating Rate Bonds (8.05%): Choose when —
✅ You have amounts exceeding SCSS + POMIS limits
✅ No investment cap — invest any amount
✅ 7-year tenure is acceptable
Ideal Senior Portfolio: Max SCSS (₹30L × 2 for couple) + RBI Bonds (for excess savings) + POMIS (₹9L for monthly income) + Liquid Fund (emergency 6 months)
🏠 Build Your Complete Senior Citizen Investment Portfolio
SCSS secures the highest guaranteed return — but a complete senior citizen financial plan combines SCSS + RBI Bonds + POMIS + PMVVY (if existing) + health insurance + medical emergency fund to ensure you never run short of income or emergency funds. Vikash Royal will design a complete retirement income plan — maximising guaranteed income, minimising tax, and ensuring liquidity for healthcare. SEBI-Registered. ARN: ARN-356458
