SCSS Calculator
Estimate Senior Citizens Savings Scheme returns with quarterly interest payouts.
Share:
₹1,000₹30,00,000
6%9%
Quarterly Payout
₹30,750
Annual Income
₹1,23,000
Total Interest (5+{extension} yrs)
₹6,15,000
SCSS is a government savings scheme for senior citizens (age 60+). Interest is payable quarterly. Maximum deposit: ₹30 lakh. Maturity: 5 years, extendable by 3 years. TDS applies if interest exceeds ₹50,000/year (₹1L for seniors).
How is this calculated?
Quarterly Interest = (Principal × Rate × 3) / (12 × 100). The principal is returned at maturity. Interest rates are set by the government quarterly. Premature closure: 1% penalty if closed within 1 year, 0.5% after 1 year.