How SCSS interest is paid
Quarterly interest = deposit × 8.2% ÷ 4
Interest is paid on the first working day of April, July, October and January, straight into your savings account. It is not compounded. The rate is locked for the full 5 years from the day you deposit.
| Deposit | Every quarter | Per month (equal) | Per year |
|---|---|---|---|
| ₹5,00,000 | ₹10,250 | ₹3,417 | ₹41,000 |
| ₹10,00,000 | ₹20,500 | ₹6,833 | ₹82,000 |
| ₹15,00,000 | ₹30,750 | ₹10,250 | ₹1,23,000 |
| ₹20,00,000 | ₹41,000 | ₹13,667 | ₹1,64,000 |
| ₹30,00,000 | ₹61,500 | ₹20,500 | ₹2,46,000 |
Who can open it
- Anyone aged 60 or more.
- Retired at 55–60 on superannuation or VRS, if the money goes in within one month of receiving retirement benefits.
- Retired defence personnel from age 50 (same one-month rule).
Deposit from ₹1,000 up to ₹30 lakh in total across all your SCSS accounts. Spouses can each have their own ₹30 lakh account.
Tax and TDS
- The deposit counts under 80C in the old regime.
- Interest is taxed at your slab. TDS applies if your SCSS interest at that post office or bank crosses ₹1 lakh in the year; submit Form 15H if your total income is below the taxable limit.
Closing early and extending
Closing before 1 year returns the deposit with interest paid taken back. After 1 year, 1.5% of the deposit is deducted; after 2 years, 1%. At maturity you can extend for 3 years at a time, at the rate then in force.
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Questions people ask
What is the SCSS interest rate now?
8.2% a year, paid quarterly, for Oct–Dec 2026. It stays fixed for your 5-year term.
How much monthly income from ₹30 lakh in SCSS?
₹61,500 every quarter, which is ₹20,500 a month on average. SCSS pays quarterly, not monthly.
What is the maximum limit in SCSS?
₹30 lakh per person across all SCSS accounts.