Quarterly interest from the Senior Citizen Savings Scheme at the current 8.2% rate.
Senior Citizen Savings Scheme (SCSS)
Quarterly interest = Deposit × rate ÷ 100 ÷ 4SCSS is the highest-paying government small-savings scheme — 8.2% a year, paid every quarter — for anyone aged 60+ (55+ for those retiring on superannuation/VRS, 50+ for retired defence personnel). ₹30 lakh, the maximum, earns ₹61,500 every quarter, ₹2,46,000 a year.
Key rules
- Minimum ₹1,000; maximum ₹30 lakh (across all SCSS accounts of the individual).
- Tenure 5 years, extendable in blocks of 3 years.
- Deposit qualifies for Section 80C (old regime). Interest is taxable; TDS applies if it exceeds ₹1 lakh a year (senior-citizen threshold from FY 2025-26) unless Form 15H is given.
- Opened at post offices and authorised banks; the retirement corpus must be invested within 1 month of receipt for the 55–60 age route.
Rates change. The default rate is the one announced for the current quarter. You can type a different rate any time — the result updates instantly.
Sources & last reviewed
Small-savings interest rates notified quarterly by the Ministry of Finance (Department of Economic Affairs); this page uses the rate for the October–December 2026 quarter. Scheme rules follow the Government Savings Promotion Act, 1873 and the 2019 scheme rules. Senior Citizens' Savings Scheme, 2019: 5-year term, 8.2% paid quarterly, maximum ₹30 lakh.
Official sources: India Post – savings schemes · National Savings Institute
Last reviewed: 17 October 2026. Rules and rates change — if you spot something outdated, tell us and we will fix it.
Frequently asked questions
What is the SCSS interest rate?
8.2% per annum for the October–December 2026 quarter, paid quarterly. The rate is locked for the 5-year term when you open the account.
How much interest on ₹30 lakh in SCSS?
₹61,500 every quarter — ₹2,46,000 a year and ₹12,30,000 over the full 5 years.
Can a husband and wife both open SCSS?
Yes. Each can deposit up to ₹30 lakh in their own account, so a couple can invest ₹60 lakh in total.