SCSS Calculator
Calculate senior citizen savings scheme quarterly payouts and maturity.
Max ₹30 Lakhs per individual. Multiples of ₹1,000.
Can be extended by 3 more years after initial 5-year tenure
Interest Payout
Quarterly
Every 3 months
Eligible Age
60+ Years
Senior Citizens only
SCSS Maturity Formula (Compounded)
M.A = P × (1 + r/n)^(n × t)
M.A = Maturity amount
P = Principal amount = ₹ 10,00,000
r = Interest rate = 8.2%
n = Compounding frequency = 4 (quarterly)
t = Tenure = 5 years
Your Calculation
Given: P = ₹ 10,00,000, r = 8.2%, n = 4, t = 5
M.A = ₹ 10,00,000 × (1 + 0.0820/4)^(4 × 5)
M.A = ₹ 10,00,000 × (1.0205)^20
M.A = ₹ 10,00,000 × 1.500584
M.A = ₹ 15,00,584
Note: In SCSS, interest is paid out quarterly (not reinvested). Actual payout: ₹ 20,500/quarter. The formula above shows the compounded value if interest were reinvested.
Quarterly Payout
₹20,500
Every 3 months directly to your bank account
• For Senior Citizens (60+ years) only
• Tax deduction under Section 80C (up to ₹1.5L)
• TDS applicable if interest exceeds ₹50,000/year
• Premature closure allowed after 1 year (with penalty)
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