SCSS Calculator — 8.2% Quarterly Income for Seniors (2026)
The Senior Citizen Savings Scheme pays 8.2% p.a. — unchanged for Q2 FY 2026-27 (July 2026) — as guaranteed quarterly income for investors aged 60+. Calculate your payout for deposits up to the ₹30 lakh limit.
How SCSS interest is calculated
SCSS pays simple interest every quarter — the principal stays intact and is returned at the end of the 5-year term.
₹15,00,000 × 0.082 ÷ 4 = ₹30,750 per quarter
SCSS quarterly income at 8.2%
| Deposit | Quarterly income | Yearly income | Total interest (5 years) |
|---|---|---|---|
| ₹10,00,000 | ₹20,500 | ₹82,000 | ₹4,10,000 |
| ₹15,00,000 | ₹30,750 | ₹1,23,000 | ₹6,15,000 |
| ₹30,00,000 (max) | ₹61,500 | ₹2,46,000 | ₹12,30,000 |
SCSS rules at a glance (July 2026, Q2 FY 2026-27)
| Feature | Detail |
|---|---|
| Interest rate | 8.2% p.a., paid quarterly (unchanged 9 quarters) |
| Eligibility | Age 60+ (relaxations for certain retirees) |
| Deposit limit | Maximum ₹30 lakh (single or with spouse as joint first-holder) |
| Tenure | 5 years + one 3-year extension |
| Tax | 80C on deposit (old regime); interest taxable; TDS u/s 194A above ₹1L/yr for seniors |
| Guarantee | Sovereign — Government of India small-savings scheme |
Frequently asked questions
What is the SCSS interest rate in 2026?
The Senior Citizen Savings Scheme earns 8.2% per annum for Q2 FY 2026-27 (July–September 2026), paid out quarterly. The rate is unchanged for the 9th consecutive quarter and is among the highest government-guaranteed rates.
How much quarterly income does ₹15 lakh in SCSS give?
Quarterly interest = deposit × 8.2% ÷ 4. On ₹15,00,000 that is ₹30,750 every quarter — ₹1,23,000 per year and ₹6,15,000 over the 5-year term. The ₹30 lakh maximum pays ₹61,500 per quarter.
Who can open an SCSS account?
Anyone aged 60 or above (55+ for certain retirees under superannuation/VRS rules and 50+ for retired defence personnel, subject to conditions). Maximum total deposit is ₹30 lakh. The term is 5 years, extendable by 3 years.
Is SCSS interest taxable? What about TDS?
SCSS interest is taxable at your slab rate. The deposit qualifies for Section 80C in the old regime. TDS under Section 194A applies only if interest exceeds the ₹1 lakh annual threshold for senior citizens — you can submit Form 15H if your income is below the taxable limit.
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