Senior Citizen Savings & Withdrawal Calculator

SCSS Rules

Senior Citizen Savings Scheme (SCSS, 2019 scheme rules): Max investment ₹30 lakh per account, 5-year tenure, extendable in further 3-year blocks (para 8, amended by G.S.R. 829(E) of 7 November 2023, per the Department of Posts SB Order 22/2023), 8.2% interest paid quarterly. The Ministry of Finance (DEA) Office Memorandum of 30 September 2026 keeps small savings rates for Oct-Dec 2026 unchanged from the previous quarter, and India Post's savings schemes page lists SCSS at 8.2%. The Government announces the rate quarterly for new deposits, but an account's rate is fixed at the rate in force on its deposit date for the full 5-year term (para 5(1)), so the 5-year total here is the projection for a new account at today's 8.2%. An extension earns the rate in force at maturity (para 5(7)), and the extended figure assumes that rate equals 8.2%. The monthly figure in the results is the annual interest divided by 12, an average for comparison; SCSS itself pays quarterly. The Post Office MIS rate of 7.4% in the scheme list is from published reports, not confirmed on an official page here, so check it with the post office. Interest is taxable, and TDS rules apply, so check the current threshold with your bank or post office.

Frequently Asked Questions

Q: What is the maximum SCSS investment?
A: The maximum deposit in SCSS was enhanced to ₹30 lakh (from ₹15 lakh) by amendment G.S.R. 240(E) dated 31 March 2023.