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SCSS Calculator – ₹15 Lakh Investment

Looking to test custom investment amounts? Use our master Senior Citizens Savings Scheme (SCSS) Calculator for dynamic sliders and bank comparisons.

Quarterly Interest

₹30,750

Total Interest

₹6,15,000

Maturity Value

₹21,15,000

Adjust Parameters

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

Earnings Breakdown

Quarterly Interest

₹30,750

Invested
Interest

Year-by-Year Interest Summary

YearPrincipalQuarterly InterestYearly InterestCumulative Interest
1 Year₹15,00,000₹30,750₹1,23,000₹1,23,000
2 Years₹15,00,000₹30,750₹1,23,000₹2,46,000
3 Years₹15,00,000₹30,750₹1,23,000₹3,69,000
4 Years₹15,00,000₹30,750₹1,23,000₹4,92,000
5 Years₹15,00,000₹30,750₹1,23,000₹6,15,000

*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.

What ₹15 Lakh in SCSS Actually Pays You

₹15 lakh was the old maximum for SCSS and remains the most common deposit size. It now sits at exactly half the current ceiling, leaving room to top up later if you want more of your corpus in the scheme.

Quarterly Interest

₹30,750

Annual Interest

₹1,23,000

Total Interest (5 Yrs)

₹6,15,000

Figures shown at the current notified rate of 8.2% p.a. Adjust the sliders above to model a different rate.

  • Because the ceiling has been raised, a ₹15 lakh deposit no longer exhausts your allowance — you can open a further account, subject to the combined individual limit.
  • Annual interest at this level is several times the ₹50,000 Section 80TTB deduction, so expect TDS on your quarterly interest unless Form 15H applies to you.
  • The Section 80C deduction remains capped at ₹1,50,000 regardless of deposit size, so the tax benefit on the deposit itself is identical to a smaller investment.
  • Quarterly interest lands on 31 March, 30 June, 30 September and 31 December, which makes this size a common choice for covering recurring household expenses.

Interest is taxable at your slab rate. Section 80TTB shelters the first ₹50,000 of deposit interest each year; the balance is added to your total income.

Calculate the quarterly interest payment and five-year returns on a ₹15 Lakh Senior Citizens Savings Scheme deposit.

SCSS Calculator – ₹15 Lakh Investment — Frequently Asked Questions

Tax treatment and interest for a ₹15 Lakh SCSS deposit.

You cannot add to an existing SCSS account — deposits are made once at opening. However, since the individual ceiling is now ₹30 lakh, you can open a further account for the balance, provided your combined deposits across all institutions stay within that limit.

The calculator above shows the exact figure at the current notified rate. Because SCSS pays out rather than compounds, the quarterly amount stays level for the full five-year term, and your principal is returned unchanged at maturity.

They serve different purposes. SCSS carries a sovereign guarantee, a centrally notified rate, and mandatory quarterly interest, but locks in a five-year term with a deposit ceiling. A bank FD lets you choose the tenure and interest payment frequency with no ceiling, at a rate the bank sets commercially.

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