What is the current interest rate for SCSS in 2026?

The current Senior Citizens Savings Scheme (SCSS) interest rate is 8.2% per annum, paid out as guaranteed quarterly interest.

What is the maximum investment limit in SCSS?

The maximum deposit limit in SCSS is ₹30 Lakhs per individual aged 60 and above.

What is the maximum deposit limit for SCSS in 2026?

The maximum deposit limit for Senior Citizens Savings Scheme (SCSS) is ₹30 Lakhs per individual (increased from ₹15 Lakhs in Budget 2023). Deposits can be made in multiples of ₹1,000.

How are SCSS interest payouts disbursed?

SCSS interest is paid out quarterly on the first working day of April, July, October, and January directly into the subscriber bank account linked with India Post or participating banks.

Does SCSS qualify for Section 80C tax deduction?

Yes, principal deposits made in SCSS qualify for tax deduction under Section 80C up to the statutory maximum cap of ₹1,50,000 per financial year (under the Old Tax Regime).

Is SCSS interest subject to TDS?

Yes, if total interest across all SCSS accounts exceeds ₹50,000 in a financial year for senior citizens, TDS is deducted at 10% under Section 194A. Non-taxable seniors can submit Form 15H to avoid TDS.

SCSS Calculator 2026 (Senior Citizens Savings Scheme)

Calculate 8.2% quarterly interest payout and Section 80C tax benefits for senior citizens above age 60.

SCSS Deposit Inputs

Deposit Amount (₹)

Quarterly Payout (4x / Year)₹30,750 / quarter

Annual Payout: ₹1.23 L (at 8.2% p.a.)

5-Yr Total Interest₹6.15 L

Sec 80C Tax Deduction₹1.50 L

5-Year SCSS Payout Schedule

Year	Quarterly Interest	Annual Interest Paid	Cumulative Interest	Maturity Repayment
Year 1	₹30,750 / qtr	₹1.23 L	₹1.23 L	₹15.00 L
Year 2	₹30,750 / qtr	₹1.23 L	₹2.46 L	₹15.00 L
Year 3	₹30,750 / qtr	₹1.23 L	₹3.69 L	₹15.00 L
Year 4	₹30,750 / qtr	₹1.23 L	₹4.92 L	₹15.00 L
Year 5	₹30,750 / qtr	₹1.23 L	₹6.15 L	₹15.00 L

SCSS Quarterly Interest Formula & Live Calculation

Standard Formula

Quarterly Payout = (Deposit Amount × Annual Interest Rate) / 4

Live Calculation (Plugging Your Values)

Deposit Amount (P):₹15.00 L

Annual Interest Rate (r):8.2% p.a.

Tenure (n):5 Years (Extendable by 3 Yrs)

Section 80C Deduction (80C):₹1.50 L

Substituted Equation:

Quarterly Payout = (₹15.00 L × 8.2%) / 4 = (₹1.23 L) / 4

Quarterly Payout Amount:₹30,750 / quarter

SCSS pays a guaranteed quarterly interest credited directly on April 1, July 1, October 1, and January 1. Under Section 80TTB, senior citizens can also claim up to ₹50,000 deduction on interest income.

Senior Citizens Savings Scheme (SCSS) FAQs

Resident individuals aged 60 years or above are eligible. Retired civilian employees aged 55-60 years and retired defense personnel aged 50-60 years can also open an account within 1 month of receiving retirement benefits.