Investment Details
₹
₹1K₹30L
%
6%10%
yr
1 yr8 yr
Standard tenure is 5 years, extendable once by 3 years.
Quarterly Interest Payout
₹0
credited every 3 months as income
Monthly ≈
₹0
Annual
₹0
Total Interest
₹0
Summary
Total value received (principal + interest)
₹0
How SCSS Returns Work
Quarterly interest = Principal × Rate ÷ 4
Principal is returned in full at maturity
Principal is returned in full at maturity
SCSS interest is not compounded — it is paid out every quarter as income. So your maturity value equals the principal you invested, plus all the quarterly payouts you received during the tenure.
Key Features
- →For 60+ (or 55+ for VRS retirees, 50+ for defence personnel).
- →Max ₹30 lakh per individual, in multiples of ₹1,000.
- →80C deduction on the deposit up to ₹1.5 lakh.
- →Government-backed — capital is fully safe.
Frequently Asked Questions
Common questions about the Senior Citizens Savings Scheme
What is the current SCSS interest rate?
SCSS pays 8.2% per annum, credited quarterly. The rate is reviewed every quarter and is among the highest guaranteed returns for senior citizens.
How much can I invest in SCSS?
Maximum ₹30 lakh per individual, minimum ₹1,000, in multiples of ₹1,000. It can be held jointly with a spouse.
Is SCSS interest paid monthly or quarterly?
Quarterly — on the first working day of April, July, October and January. It is credited to your savings account as income, not reinvested.
What is the SCSS tenure?
5 years, extendable once by 3 years. The principal is returned in full at maturity since interest is paid out periodically.
Is SCSS interest taxable?
Yes, it is taxed at your slab rate. TDS applies if annual interest exceeds ₹50,000 for senior citizens. The deposit qualifies for 80C deduction up to ₹1.5 lakh.
Can I withdraw from SCSS early?
Yes, premature withdrawal is allowed with a penalty: 1.5% of the deposit if closed within 1 year, and 1% if closed between 1 and 2 years. After 2 years no penalty applies on closure.