SCSS Calculator 2026: monthly income after retirement
Aged 60+? Deposit up to Rs. 30 lakh once and receive guaranteed income every quarter. The most popular scheme for senior citizens.
SCSS: the best scheme for retirement
For people aged 60+ (55+ for retired government or defence staff). Deposit up to Rs. 30 lakh once and interest is credited to your account every quarter. The principal comes back after 5 years, with a 3-year extension available.
Couple tip: husband and wife can each deposit Rs. 30 lakh separately, which means quarterly income on Rs. 60 lakh.
Key rules
- Age 60+ (55+ for retired defence or government staff)
- Maximum Rs. 30 lakh per person
- Interest credited quarterly
- Section 80C benefit
- 5 years plus a 3-year extension
- TDS is deducted; submit Form 15H to avoid it if eligible
Frequently asked questions
Is TDS deducted on SCSS?
Yes, when yearly interest exceeds Rs. 50,000. Submit Form 15H to avoid TDS if your total income is below the taxable limit.
Can SCSS be extended?
Yes. Apply within 1 year of maturity and the account is extended by 3 years.
SCSS vs bank FD?
SCSS usually offers a higher rate, an 80C benefit and a 100% government guarantee. Bank FDs are covered by DICGC only up to Rs. 5 lakh.
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Source: Ministry of Finance / India Post, rates Q4 FY2025-26, subject to quarterly revision. Results are indicative; confirm final figures with your bank or post office.