About this SCSS calculator
The Senior Citizens Savings Scheme is a government-backed scheme for people aged 60 and above. It offers a fixed interest rate paid quarterly and a five-year tenure, extendable by three years.
Enter the investment amount and the rate. The tool computes the quarterly and annual interest and the total over five years. The maximum investment is ₹30 lakh.
Interest is taxable. Premature withdrawal is allowed with a penalty. Always confirm the current rate and rules at the post office or bank.