Senior Citizen Savings Scheme (SCSS) Calculator
About SCSS
The Senior Citizen Savings Scheme (SCSS) is a government-backed savings scheme designed to provide financial security and regular income to senior citizens.
- Interest Rate: 8.2% per annum (quarterly)
- Tenure: 5 years (extendable by 3 years)
- Minimum Age: 60 years (55+ for retirees)
- Tax Benefits: Section 80C deduction
Key Benefits
- ✅ Government-backed security
- ✅ Higher interest rates than FDs
- ✅ Quarterly interest payments
- ✅ Tax deduction under Section 80C
- ✅ Premature withdrawal allowed
- ✅ Joint account facility
Formula Used
Quarterly Interest:
(Principal × Annual Interest Rate) ÷ 4
Annual Interest:
Principal × Annual Interest Rate
Maturity Amount:
Principal + Total Interest
Important Dates
Interest Payment Dates:
- April 1st
- July 1st
- October 1st
- January 1st
Interest is paid on the first working day of each quarter.
Senior Citizen Savings Scheme (SCSS) Calculator - Plan Your Retirement Income
Our SCSS calculator helps senior citizens calculate quarterly interest returns from their Senior Citizen Savings Scheme investments. Get accurate calculations for interest income, maturity amount, and tax benefits. Plan your retirement with confidence using this government-backed savings scheme that offers attractive interest rates and regular quarterly payments.
Key Features: Quarterly interest calculation • Tax benefit analysis • Maturity amount projection • Yearly breakdown • Income distribution charts • FAQ section with expert answers • Mobile-friendly responsive design • 100% accurate government-approved calculations