SCSS Calculator — Senior Citizen Saving Scheme
Senior Citizen Saving Scheme (SCSS) gives 8.2% p.a. interest paid quarterly. Max ₹30 lakh deposit, 5-year tenure, eligible for 80C.
Formula
Quarterly interest = principal × 8.2% / 4. Principal returns at maturity.
Example
₹15 lakh in SCSS → ₹30,750 every quarter for 5 years → ₹6.15L total interest.
Frequently Asked Questions
Who can open SCSS?
Indian residents aged 60+, or 55+ if retired under VRS/superannuation.
Is SCSS interest taxable?
Yes, fully taxable at slab rate. TDS applies if interest > ₹50,000/year.
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