Guides / Senior Citizen Savings Scheme (SCSS): Interest, Limit and Payout
Senior Citizen Savings Scheme (SCSS): Interest, Limit and Payout
3 Oct 2026The Senior Citizen Savings Scheme (SCSS) is a government-backed scheme for people aged 60 and above. It pays interest every quarter, so it works well for regular income in retirement.
Key features
- Who can invest: people aged 60 or above, and some early retirees under the rules.
- Limit: up to ₹30 lakh in total.
- Tenure: 5 years, extendable by 3 years.
- Interest: set quarterly by the government. It was 8.2% in the October to December 2026 quarter, so check the current rate.
- Payout: interest is paid every quarter, and the deposit comes back at maturity.
What you can earn at 8.2%
| Deposit | Interest per quarter | Interest in 5 years |
|---|---|---|
| ₹15 lakh | ₹30,750 | ₹6.15 lakh |
| ₹30 lakh | ₹61,500 | ₹12.3 lakh |
Check your own figures in the SCSS Calculator.
Things to know
- Interest is taxable at your slab rate, and TDS may apply above a limit.
- Closing early is allowed with a deduction, so keep it for money you will not need soon.
- The rate applies to the quarter in which you deposit and then stays fixed for that account.
- Compare it with a bank FD after tax. See FD returns after tax and inflation.