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SCSS Calculator – ₹5 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

₹10,250

Total Interest

₹2,05,000

Maturity Value

₹7,05,000

Adjust Parameters

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

Earnings Breakdown

Quarterly Interest

₹10,250

Invested
Interest

Year-by-Year Interest Summary

YearPrincipalQuarterly InterestYearly InterestCumulative Interest
1 Year₹5,00,000₹10,250₹41,000₹41,000
2 Years₹5,00,000₹10,250₹41,000₹82,000
3 Years₹5,00,000₹10,250₹41,000₹1,23,000
4 Years₹5,00,000₹10,250₹41,000₹1,64,000
5 Years₹5,00,000₹10,250₹41,000₹2,05,000

*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 ₹5 Lakh in SCSS Actually Pays You

₹5 lakh is the most tax-efficient common SCSS deposit size, because the interest it generates can fall within the ₹50,000 that Section 80TTB shelters for senior citizens.

Quarterly Interest

₹10,250

Annual Interest

₹41,000

Total Interest (5 Yrs)

₹2,05,000

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

  • At the current notified rate, annual interest on ₹5 lakh lands just under the ₹50,000 Section 80TTB deduction — meaning the interest can be fully sheltered and no TDS deducted.
  • This headroom is not guaranteed. The ₹50,000 threshold covers interest from all your deposits combined, so other fixed deposits or savings interest can push you over it even if this account alone would not.
  • A rate revision also matters: because the annual interest sits close to the threshold, a higher notified rate on a future deposit could take you past ₹50,000.
  • You can claim the maximum allowable ₹1,50,000 deduction under Section 80C in the year of investment, while the remaining ₹3,50,000 brings no additional 80C tax benefit.

Zero TDS is a likely outcome at this size, not an automatic one — it depends on your total interest income across every deposit you hold, not on this account in isolation.

Calculate the quarterly interest payment and five-year returns on a ₹5 Lakh Senior Citizens Savings Scheme deposit.

SCSS Calculator – ₹5 Lakh Investment — Frequently Asked Questions

Tax treatment and interest for a ₹5 Lakh SCSS deposit.

Often, but not automatically. At the current notified rate the annual interest on ₹5 lakh falls just below the ₹50,000 that Section 80TTB shelters for senior citizens. The threshold applies to your combined deposit interest, though, so interest from other FDs or savings accounts can push your total past it and trigger deduction.

The excess becomes taxable at your slab rate and the institution deducts TDS from your quarterly interest. If your total income for the year is still below the taxable limit, submitting Form 15H at the start of the financial year stops the deduction at source.

Comfortably. The scheme minimum is ₹1,000, with deposits in multiples of ₹1,000 thereafter, so ₹5 lakh is well above the floor and far below the ₹30 lakh ceiling. You retain the option to open further accounts later within your remaining individual limit.

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