Is SCSS interest taxable?

SCSS calculator

Senior Citizens' Savings Scheme quarterly income.

Quarterly interest

₹30,750

paid every quarter for 5 years

Monthly equivalent: ₹10,250
Total interest (5 years): ₹6,15,000
Maturity amount: ₹21,15,000

SCSS is for people aged 60 and above (55 for some retirees). Interest is taxable and paid out, not compounded. The account can be extended once by 3 years.

Investment₹15,00,000
Total interest₹6,15,000

What this calculates

The Senior Citizens' Savings Scheme pays interest every quarter for 5 years to investors aged 60 and above, up to ₹30 lakh.

How it's calculated

Quarterly interest = P × R ÷ 4

Total interest = Quarterly interest × 20

Results are illustrations based on the inputs you choose. Returns are not guaranteed and actual outcomes will vary. This is education, not advice.

Questions about this tool

Yes, at your slab rate. Deposits qualify for 80C in the old regime.