Quarterly, monthly and yearly income from the Senior Citizen Savings Scheme.
A deposit of ₹10,00,000 (10 lakh) in the Senior Citizen Savings Scheme at 8.2% pays ₹20,500 every quarter — about ₹6,833 a month or ₹82,000 a year. Over the 5-year term you earn ₹4,10,000 in interest, and your ₹10,00,000 is returned at maturity.
| Rate | Quarterly | Monthly equivalent | Yearly |
|---|---|---|---|
| 7.4% | ₹18,500 | ₹6,167 | ₹74,000 |
| 8% | ₹20,000 | ₹6,667 | ₹80,000 |
| 8.2% | ₹20,500 | ₹6,833 | ₹82,000 |
| 8.6% | ₹21,500 | ₹7,167 | ₹86,000 |
The rate is fixed for your full term at the rate on the day you invest. It was 8.2% at the time of writing; the government revises it every quarter.
SCSS interest is taxable at your slab rate. Yearly interest is within the ₹1 lakh TDS threshold for senior citizens (from FY 2025-26), so no TDS should be deducted, though the interest is still taxable. The deposit itself qualifies for section 80C under the old regime.
At 8.2%, ₹10,00,000 earns ₹20,500 every quarter, which is ₹82,000 a year and ₹4,10,000 over 5 years.
The maximum deposit is ₹30 lakh per individual across all SCSS accounts.