SCSS calculator
Advanced settings
60–120 completed years for this eligibility basis.
1 Oct 2026–31 Dec 2100; later notified rates are not assumed.
Include principal attributed to you as first holder. This plus the new deposit must not exceed ₹30 lakh.
- Net coupons₹3,28,000.00
- Assumed tax₹82,000.00
Scheme details & suitability
A government-backed, quarterly-income savings scheme for senior citizens.
5 years from opening, extendable by 3 years.
Resident Indian individuals aged 60+, or 55+/50+ for retired civilian/defence.
Pros
- Government-backed, among the safest senior-citizen options
- Regular quarterly payouts, no reinvestment needed
- Rate fixed for the full 5-year initial term
Cons
- Coupon tax and any applicable deductions need separate review
- Premature closure penalties apply
- Aggregate cap of ₹30 lakh across SCSS accounts
Calculation rules and sources
Age-based eligibility is 60+, with limited retired civilian and defence exceptions. Special spouse cases and premature closure are not modeled.
Rule version C23.1, reviewed 2026-10-09: SCSS Scheme 2019 paragraphs 3–8 (https://www.nsiindia.gov.in/InternalPage.aspx?Id_Pk=168), G.S.R. 240(E), 31 March 2023 (₹30 lakh cap), and G.S.R. 829(E), 7 November 2023, circulated in India Post SB Order 22/2023 (https://www.indiapost.gov.in/VAS/DOP_PDFFiles/SB_Orders_2023.pdf).
8.2% applies to modeled openings from 1 October to 31 December 2026, fixed for the initial five years. NSI rate table: https://www.nsiindia.gov.in/InternalPage.aspx?Id_Pk=132. DEA 30 September 2026 notice: https://dea.gov.in/files/budget_division_documents/R.pdf. Other opening dates require an explicitly entered illustration, not a claim about a notified scheme return.
Quarterly interest is principal × annual rate / 4. Partial calendar quarters use actual eligible days / actual days in that quarter. Interest accrues from opening through the day before maturity. Each quarterly payment rounds to the nearest rupee (50 paise upwards); coupons are not compounded or reinvested.
Due from is the calendar date, not a verified bank payment date. Regular coupons are payable on the first working day of January, April, July or October. The final partial coupon is payable at maturity. Holidays and processing delays are not modeled.
A planned three-year extension assumes a valid Form-4 election within one year of initial maturity. The actual extension rate is the rate notified at that maturity date; this future rate is unknown, so the entered extension rate is only a scenario. Further three-year blocks are allowed under the amended rules but are not modeled here.
One new account, resident Indian individual, no early closure, death, residency changes or irregular receipts. Other SCSS principal is manually declared, including principal attributed to this first holder in joint accounts. Retired defence excludes civilian defence staff. Special spouse/death-benefit eligibility is not modeled. Documents and eligibility remain subject to account-office verification.
Assumed tax is positive paid coupons × the entered percentage, not TDS or final personal tax liability. No deduction, exemption, tax benefit or personalised suitability claim is made. Principal repayment is separate from coupons already paid; their sum is not a maturity payout.
Illustration, not an account statement or eligibility approval. Assumed tax is not a tax assessment. No account or portfolio data is used.