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ICICI Bank SCSS Calculator

Government SCSS rates and quarterly interest are uniform across all banks. Use our master Senior Citizens Savings Scheme (SCSS) Calculator for detailed year-by-year tax and compounding breakdowns.

Quarterly Interest

₹20,500

Total Interest

₹4,10,000

Maturity Value

₹14,10,000

Adjust Parameters

₹
₹1,000₹30,00,000
%
1%15%
5 Years (Fixed)

Earnings Breakdown

Quarterly Interest

₹20,500

Invested
Interest

Year-by-Year Interest Summary

YearPrincipalQuarterly InterestYearly InterestCumulative Interest
1 Year₹10,00,000₹20,500₹82,000₹82,000
2 Years₹10,00,000₹20,500₹82,000₹1,64,000
3 Years₹10,00,000₹20,500₹82,000₹2,46,000
4 Years₹10,00,000₹20,500₹82,000₹3,28,000
5 Years₹10,00,000₹20,500₹82,000₹4,10,000

*Note: As per official SCSS guidelines, quarterly interest payments are rounded off to the nearest rupee. Any fractional adjustments (e.g., 50 paise) are automatically reconciled by the bank in subsequent quarters to ensure your exact yearly and total interest remains 100% accurate.

How to Open an SCSS Account at ICICI Bank

ICICI Bank is an authorised SCSS agency bank. As a private-sector bank it handles SCSS through the branch rather than through net banking.

  1. 1Visit an ICICI Bank branch that handles government small savings schemes and ask for Form A for SCSS.
  2. 2Carry PAN, Aadhaar, age proof, and two passport-size photographs for KYC at the counter.
  3. 3If you are between 55 and 60 and applying on superannuation or VRS grounds, bring your retirement proof and apply within one month of receiving benefits.
  4. 4Nominate your ICICI Bank savings account for the debit and for quarterly interest credit.
  5. 5Fund the deposit by cheque or account transfer, staying within the overall SCSS ceiling.
  6. 6Complete nomination using Form-2 and collect the deposit advice from the branch.

Quarterly interest is credited to the linked ICICI Bank savings account and is visible in iMobile and net banking statements.

SCSS is a Government of India scheme — the interest rate is identical at every authorised institution.

Calculate your quarterly interest payment and maturity value for a Senior Citizens Savings Scheme account at ICICI Bank.

ICICI Bank SCSS Calculator — Frequently Asked Questions

Opening and operating an SCSS account with ICICI Bank.

No. ICICI Bank requires SCSS accounts to be opened at a branch using Form A, because age verification and wet-signature KYC are mandatory for government small savings schemes. You can track the deposit afterwards in iMobile and net banking.

Not every branch is equipped for government small savings schemes. Call your branch beforehand and confirm they process SCSS under the agency-bank arrangement, as some smaller branches will direct you to a larger one nearby.

Yes. SCSS is a Government of India scheme and the sovereign guarantee applies regardless of which authorised institution holds the account. ICICI Bank acts as an agency bank; the backing does not depend on the bank.

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