TDS applies if SCSS interest + other interest > ₹50,000/year for seniors
Apr / Jul / Oct / Jan
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Monthly Equiv.
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Annual Interest
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Post-TDS / Year
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🟢TDS status loading...
Total Interest Earned (Full Tenure)
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Deposit: ₹15L · 5 years · 8.2% p.a.
Principal (returned)
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Total Received
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Effective Yield
8.2%
Deposit Amount₹0
Interest Rate8.2% p.a.
Tenure5 years
Quarterly Interest Payout₹0
Annual Interest Income₹0
TDS Deducted (10%)₹0
Net Post-TDS Annual Income₹0
Total Interest (full tenure)₹0
Principal Returned at Maturity₹0
Total Amount Received₹0
🆕 Tax Benefits on SCSS
80C Deduction on Deposit (max ₹1.5L)₹0
80TTB Interest Deduction (max ₹50K)₹0 saved
Combined Annual Tax Saving₹0
Cumulative Payout Over Tenure
Cumulative Interest
Principal
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⚠ Premature Withdrawal Penalty
Before 1 yearNot allowed
After 1 yr, before 2 yrs — Penalty 1.5%₹0
After 2 yrs — Penalty 1%₹0
Penalty = % of original deposit amount deducted from closing balance. No penalty on death of account holder.
⚠️ FY 2026-27. SCSS rate is 8.2% p.a. (Q1 2026-27), reviewed quarterly by GoI. Interest is paid on 1 April, 1 July, 1 October and 1 January. Maximum deposit ₹30 lakh per individual. TDS at 10% if annual interest from SCSS exceeds ₹50,000 (senior citizen threshold). Interest is fully taxable. Sec 80C deduction available on deposit (up to ₹1.5L). Sec 80TTB deduction up to ₹50,000 on interest. Extended 3-year tenure earns rate applicable at original maturity date. Consult a CA for exact tax computation.
About SCSS Calculator
The Senior Citizen Savings Scheme (SCSS) is a government-backed post office savings scheme offering guaranteed quarterly interest to Indian residents aged 60+. The current rate is 8.2% p.a. (Q1 FY 2026-27), making it one of the highest-yielding small savings instruments. Interest is paid quarterly on 1 April, 1 July, 1 October and 1 January. The primary tenure is 5 years, extendable by one block of 3 years. Maximum deposit is ₹30 lakh per individual; a couple can each hold a separate account for a combined ₹60 lakh. The deposit qualifies for Sec 80C deduction up to ₹1.5 lakh; interest income qualifies for Sec 80TTB deduction up to ₹50,000 annually. TDS at 10% is deducted if total interest in a financial year exceeds ₹50,000 for senior citizens. This calculator shows quarterly payouts, annual income, TDS impact, premature withdrawal penalties, and complete year-by-year payout schedule.
Frequently Asked Questions
What is the SCSS interest rate for 2026-27? +
The SCSS rate for Q1 FY 2026-27 (April–June 2025) is 8.2% per annum. Interest is paid quarterly. The rate is reviewed every quarter by the Government of India. SCSS has historically offered the highest rate among small savings schemes.
What is the maximum deposit in SCSS? +
Maximum ₹30 lakh per individual (raised from ₹15L in Budget 2023). Minimum ₹1,000 in multiples of ₹1,000. A married couple can each deposit ₹30L separately — total ₹60 lakh. Excess deposits are returned immediately.
Is SCSS interest taxable? What about TDS? +
Yes, SCSS interest is fully taxable as 'Income from Other Sources'. TDS at 10% is deducted if annual interest exceeds ₹50,000 (senior citizen threshold). However, Sec 80TTB allows deduction up to ₹50,000/year on interest from banks, post offices and SCSS. The principal investment qualifies for Sec 80C deduction up to ₹1.5L.
Can I extend SCSS after 5 years? +
Yes. After 5 years you can extend for one block of 3 years by submitting Form B within 1 year of maturity. The extended account earns interest at the rate prevailing on the original maturity date. If not extended, the account earns Post Office Savings Account rate.
Who is eligible for SCSS? +
Eligible: (1) Indian residents aged 60+, (2) Retired civilians aged 55+ who received superannuation benefits — within 1 month of receipt, (3) Retired defence personnel aged 50+ within 1 month of receipt. NRIs and HUFs are NOT eligible.
What are the premature withdrawal penalties? +
No premature withdrawal before 1 year. After 1 year but before 2 years: 1.5% of deposit deducted. After 2 years: 1% of deposit deducted. No penalty if account holder dies — full amount paid to nominee.