Senior Citizens’ Savings Scheme (SCSS) calculator

8.2% a year for accounts opened in October–December 2026 (Q3 FY 2026-27). The rate stays fixed for the account’s whole term.

Every quarter, on the first working day of April, July, October and January.

₹30 lakh per person across all SCSS accounts.

Yes, the interest is taxable. The deposit can be deducted under Section 123 (formerly 80C), but only under the old tax regime.

At 8.2%, a deposit of ₹15,00,000 pays ₹30,750 every quarter and ₹30,00,000 pays ₹61,500 every quarter, which is about ₹20,500 a month. Each ₹1,00,000 pays ₹2,050 a quarter.

Yes, with a deduction. India Post states: if closed before 1 year, no interest is paid and interest already paid is recovered from the deposit; after 1 year but before 2 years, 1.5% of the deposit is deducted; after 2 years but before 5 years, 1% is deducted. Rules can change, so confirm at your post office or bank before acting.

Yes. India Post states the account can be renewed for further terms of 3 years each, at the rate in force on the maturity date. If an extended account is closed within one year of the extension, 1% of the deposit is deducted. Rules can change, so confirm at your post office or bank before acting.

Yes, when your total SCSS interest in a financial year is above the limit set in the tax law for senior citizens, which has been reported as ₹1 lakh from April 2025 (₹50,000 before). If your tax for the year is nil you can give a self-declaration so that tax is not deducted. Ask your post office or bank for the current limit and form.