Finance
SCSS Calculator
SCSS is the highest-yield sovereign-backed deposit available to senior citizens (60+, or 55+ with VRS). Quarterly interest is paid out — perfect for retirees needing regular income — and principal is returned in full at maturity. The cap was raised to ₹30 lakh in April 2023, making it materially more useful for affluent retirees.
Cap raised to ₹30L from Apr 2023.
Currently 8.2% (Q4 FY25).
5 years + optional 3-year extension.
Quarterly payout
Equivalent to ₹10,250 / month.
Total interest
₹6,15,000
Principal returned
₹15,00,000
Total payout
₹21,15,000
Quarters
20
Total payout
₹21,15,000
70.9%
29.1%
SCSS interest is taxable. TDS @10% if interest exceeds ₹50,000/year. 80C allowed up to ₹1.5L.
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Frequently asked
- Is SCSS interest tax-free?
- No. Interest is taxable at slab and TDS is deducted if it crosses ₹50,000 a year. The investment itself qualifies for 80C, but only up to ₹1.5 lakh.
- Can I extend after 5 years?
- Yes — once for 3 years. During the extension you continue to earn the prevailing SCSS rate (revised quarterly).
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