Senior Citizen Savings Scheme (SCSS) Calculator

Senior Citizens Savings Scheme is a savings scheme by Government of India for senior citizens. Also known as SCSS, this retirement plan offers a steady annual interest rate of 8.2% (for Q1 to Q3 FY 2025-26), which is paid quarterly.

The minimum tenure of this scheme is 5 years, which can be further extended to 3 more years. You need to invest a minimum of ₹1000 and can go up to a maximum of ₹30 lakhs under this scheme. SCSS is available at post offices and some banks across the country.

This scheme also qualifies for tax deductions of up to ₹1.5 lakhs under Section 80C of the Income Tax Act (old regime).

The SCSS calculator is an online tool that helps you estimate the returns on your investment from the Senior Citizen Savings Scheme. It is designed with a user-friendly interface to ensure seamless usability.

You need to enter the investment amount, while the applicable interest rate and the tenure of 5 years apply automatically. With this information, the SCSS calculator will compute and display the maturity amount, quarterly interest payout, and the total interest that you will earn.

Using this calculator, you can easily estimate your income from this savings scheme and plan your investment accordingly.

The SCSS interest calculator uses a standard quarterly compounding formula to calculate the returns. It considers the principal amount invested, number of quarterly compounding periods, annual interest rate (e.g., 8.2%), and duration of the scheme (usually five years).
When you calculate manually, you may face arithmetic errors like applying compounding incorrectly or forgetting quarterly adjustments. With an SCSS interest rate calculator, seniors can quickly determine their expected income. This helps them plan their finances effectively.

The formula for calculating SCSS returns includes the quarterly compounding method. It goes as follows:

A = P × (1 + r/n)^(n × t)

Here, A refers to the maturity amount

P stands for principal amount

R denotes the annual interest rate, which is 8.2%



n refers to the number of annual compounding periods

t stands for the tenure of the scheme in years

You can subtract the principal amount from the maturity amount to calculate the interest earned.

i.e., Interest Earned = A – P

Let’s take an example to explain the calculation method practically:

If you invest ₹5,00,000 in the SCSS scheme for a tenure of 5 years at an 8.2% annual interest rate, the interest earned through the quarterly compounding method is as follows:

A = 5,00,000 × (1 + 0.082/4)^(4 × 5)

A ≈ ₹7,05,000

Therefore, you will earn a total interest of:

₹7,05,000 – ₹5,00,000 = ₹2,05,000

The senior citizen savings scheme calculator has a user-friendly interface, making interest calculation hassle-free. Here are the few easy steps that you need to follow:

Step 1: Enter your investment amount

Step 2: Add the interest rate of 8.2% (if does not populate automatically)

Step 3: Select tenure for a minimum of 5 years (auto-applied)

The calculator will compute results for:

• Total interest earned
• Quarterly interest
• Maturity amount

According to a government review, SCSS interest rates for the April-June 2025 quarter are unchanged from previous periods at 8.2% annually. For individuals 60 years of age and older, this rate is applicable to deposits made in the Senior Citizens Savings Scheme. The interest compounds quarterly on the last day of March, June, September, and December.

These rates remain stable in FY 2025-26, including quarters of July-September and October-December at 8.2%. The government benchmarks these rates against small savings instruments and makes quarterly revisions as necessary.

The interest is fully taxable, and if the annual amount exceeds ₹1 lakh (up from ₹50,000 in Budget 2025), TDS is due.

Here is a tabular representation of the SCSS interest rate in 2025:

Here are some of the notable benefits of an SCSS interest calculator:

• Accuracy

Manual calculations are often prone to human errors. An online SCSS interest calculator eliminates any such hassle and provides accurate maturity value, quarterly interest payouts, and total interest to make the investment seamless for senior citizens.

• Timesaving

The manual calculation involves working with long and complex formulas, which is time-consuming. However, when you use the SCSS calculator, you get instant outputs just by entering the correct inputs. Thus, you can avoid tedious calculations and opt for a quick assessment of investment returns.

• Helps in Planning your Retirement

Providing accurate information helps budget your post-retirement expenses effectively. This ensures financial stability and secures long-term planning free from speculation.

• Helps Compare Easily

You can quickly compare SCSS returns to alternative safe investment options such as NPS, APY, etc to make a well-informed choice to beat inflation.

• User-friendly Interface

People from all age groups can use this free calculator to compute their retirement income, as it doesn't require any technical knowledge. It has easy-to-use input fields and displays precise results.

The Senior Citizens Savings Scheme calculator is an essential and user-friendly tool for retirees looking to plan their finances effectively. It eliminates uncertainty and empowers confident investment choices by offering clear insights into quarterly payouts and maturity amounts. SCSS stands out as a top choice for consistent retirement income because it is a safe, government-backed scheme with predictable returns.