How to use the SCSS Calculator
- 1. Enter your depositAny amount from ₹1,000 to ₹30 lakh, in multiples of ₹1,000.
- 2. Confirm the rateThe default is the Oct-Dec 2026 rate of 8.2%.
- 3. See your incomeGet your quarterly, monthly and total interest.
How the SCSS payout is worked out
SCSS is an income scheme, not a growth scheme. Interest is paid out to you every quarter, so it does not compound. Your deposit stays the same and comes back to you at the end. The sum is simple: Quarterly interest = Deposit × Rate ÷ 4.
Worked example: ₹15,00,000 at 8.2%. Yearly interest is ₹1,23,000. Divide by 4 and you get ₹30,750 a quarter, which works out to ₹10,250 a month. Over 5 years you receive ₹6,15,000 in interest, and your ₹15,00,000 comes back.
At the ₹30 lakh maximum, the payout is ₹61,500 a quarter.
Rate and term
8.2% is the rate for the Oct-Dec 2026 quarter. Rates on new deposits change quarterly. Once you open an account, your rate holds for the 5-year term. After 5 years you can extend for 3 more years. The 8-year option here assumes the same rate, but the extension may get a different one.
Who can open it, and what to check
- Who. People aged 60 or above. Some retired people from age 55, and retired defence staff from age 50, can open it within a set time after getting retirement benefits.
- Limit. ₹30 lakh per person across all accounts.
- Early exit. Closing in the first year means no interest. After that, 1.5% of the deposit is cut in year two and 1% later.
- Tax. The interest is taxable, and TDS may apply. The deposit can get 80C benefit under the old regime.
Want the money to grow rather than pay out? Compare the NSC calculator. Planning for income from a mutual fund? See the SWP calculator.
Frequently asked questions
Does SCSS interest compound?
No. It is paid out every quarter. If you leave it unclaimed, it does not earn more interest, so link the account to your savings account.
Is SCSS interest paid monthly?
No. It is paid quarterly. The monthly figure here is just the yearly interest divided by 12, to help you plan.
When is the interest paid?
On the first working day of April, July, October and January. Your first payment may be smaller, as it covers only the days since you opened the account.
Is the SCSS calculator free?
Yes. You enter your name and WhatsApp number once to see your result, and all other Uncodemy tools then open without the form.