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SCSS Calculator – ₹30 Lakh Maximum Investment

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

Quarterly Interest

₹61,500

Total Interest

₹12,30,000

Maturity Value

₹42,30,000

Adjust Parameters

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

Earnings Breakdown

Quarterly Interest

₹61,500

Invested
Interest

Year-by-Year Interest Summary

YearPrincipalQuarterly InterestYearly InterestCumulative Interest
1 Year₹30,00,000₹61,500₹2,46,000₹2,46,000
2 Years₹30,00,000₹61,500₹2,46,000₹4,92,000
3 Years₹30,00,000₹61,500₹2,46,000₹7,38,000
4 Years₹30,00,000₹61,500₹2,46,000₹9,84,000
5 Years₹30,00,000₹61,500₹2,46,000₹12,30,000

*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 ₹30 Lakh in SCSS Actually Pays You

₹30 lakh is the ceiling for the Senior Citizens Savings Scheme, raised from the earlier ₹15 lakh limit. This is the largest single-name deposit the scheme allows, and it puts your interest income comfortably into TDS territory.

Quarterly Interest

₹61,500

Annual Interest

₹2,46,000

Total Interest (5 Yrs)

₹12,30,000

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

  • The ₹30 lakh ceiling applies to you as an individual across every SCSS account you hold. Splitting the deposit between a bank and the post office does not raise your allowance — the excess simply stops earning scheme interest.
  • At this level your annual interest sits far above the ₹50,000 Section 80TTB deduction, so TDS will be deducted at source unless your total income falls below the taxable limit and you file Form 15H.
  • Only ₹1,50,000 of the deposit qualifies for the Section 80C deduction. The remaining principal earns interest but brings no further deduction in the year of investment.
  • A couple can hold ₹30 lakh each in separate single-name accounts, doubling household exposure to the scheme while keeping each account within the individual ceiling.

Submit Form 15H at the start of the financial year if your total income is below the taxable threshold — otherwise TDS is withheld from every quarterly interest and you must reclaim it when filing.

Calculate the quarterly interest payment and five-year returns on a ₹30 Lakh Senior Citizens Savings Scheme deposit.

SCSS Calculator – ₹30 Lakh Maximum Investment — Frequently Asked Questions

Tax treatment and interest for a ₹30 Lakh SCSS deposit.

Yes. ₹30 lakh is the per-individual ceiling for the scheme, doubled from the previous ₹15 lakh limit. It is not a per-bank cap — the limit follows you across every institution, so an account at the post office and another at a bank still share the same ₹30 lakh allowance between them.

Almost certainly. Interest on a deposit this size runs well past the ₹50,000 that Section 80TTB shelters for senior citizens, so the bank or post office deducts TDS from your quarterly interest. If your total income for the year is under the taxable limit, submitting Form 15H at the start of the financial year prevents the deduction.

Yes, provided each of you independently meets the age criteria and each account is in a single name. The ceiling is per individual, not per household. Note that in a joint account the entire deposit counts against the first holder's limit, so two single-name accounts is the way to use both allowances.

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