IFSCIndex

SBI 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 State Bank of India

SBI is an authorised SCSS agency bank and the most digitally accessible option. Existing SBI customers can apply without a branch visit.

  1. 1Log in to SBI Internet Banking (INB) or the YONO app and open Deposit Scheme, then Senior Citizens Savings Scheme.
  2. 2Alternatively, visit any SBI branch with Form A, PAN, Aadhaar, age proof, and two photographs.
  3. 3Select the SBI savings account to be debited for the deposit and credited with quarterly interest.
  4. 4Confirm the deposit amount, keeping within the overall SCSS ceiling across all your accounts.
  5. 5Complete the nomination step online, or submit Form-2 at the branch.
  6. 6Download the e-receipt from INB, or collect the passbook if you applied at the branch.

Quarterly interest is credited automatically to the linked SBI savings account, and appears in your normal account statement.

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 State Bank of India.

SBI SCSS Calculator — Frequently Asked Questions

Opening and operating an SCSS account with State Bank of India.

Yes. SBI supports SCSS account opening digitally through both YONO and Internet Banking for existing customers whose KYC and date of birth are already recorded. If your registered date of birth is missing or your KYC is not current, SBI will route you to a branch to complete verification first.

No. The SCSS interest rate is set centrally by the Ministry of Finance and is identical at every authorised institution. SBI cannot offer a different rate. What differs is the convenience of digital opening and automatic credit to your SBI savings account.

Yes, if your total interest crosses the threshold for senior citizens in a financial year. To avoid deduction when your total income is below the taxable limit, submit Form 15H at the start of the financial year at your SBI home branch or through Internet Banking.

Yes, but you will first need an SBI savings account, since the deposit is debited from it and the quarterly interest is credited back to it. The branch can open both accounts in the same visit with standard KYC.

Popular Calculators

Looking for Bank IFSC & Transfer Details?

Need to initiate an NEFT, RTGS, or IMPS transfer for your investments or loan EMIs? Find verified IFSC codes and MICR codes across India.

Browse All 1.5 Lakh+ Bank Branches