SCSS Maximum Deposit - Rs 30 Lakh Calculator
The maximum SCSS deposit per individual is Rs 30 lakh. At 8.2%, annual interest is Rs 2.46 lakh (Rs 61,500/quarter). Over 5 years, total interest = Rs 12.3 lakh. After Section 80TTB deduction (Rs 50,000), taxable interest is Rs 2.11 lakh at 20% tax bracket = Rs 42,200 tax. Net post-tax income: Rs 2,03,800/year (Rs 6.79% effective yield).
Quarterly Payout
₹30,750
Annual Income
₹1,23,000
Total Interest (5 yrs)
₹6,15,000
SCSS rate: 8.2% p.a. (Q1 FY 2026-27). Max deposit ₹30L. Tenure: 5 years (extendable by 3). Interest paid quarterly. TDS applicable if interest exceeds ₹50,000/year.
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Common questions about SCSS Maximum Deposit - Rs 30 Lakh Calculator
What should I do with SCSS maturity amount after 5 years?
Options: (1) Extend SCSS for 3 more years (one extension allowed). (2) Open a new SCSS account if still under 60 years of age rules (no upper age limit). (3) Move to POMIS for monthly income. (4) Invest in a senior citizen FD. (5) Buy an annuity for lifetime income. Most planners recommend extending SCSS as the first choice if rates remain favorable.
What is the nomination process for SCSS?
Nomination can be made at the time of opening the SCSS account or added later. You can name up to 3 nominees with percentage shares. Update nomination whenever family circumstances change (marriage, children, loss of a nominated family member). Nomination can be changed any time before account closure by submitting Form H at the post office or bank.
Do NRI parents living abroad qualify for SCSS?
No. SCSS is available only to resident Indians. NRIs cannot open new SCSS accounts. However, if a resident Indian becomes NRI after opening an SCSS account, they can continue the account until maturity but cannot extend or open a new one. NRIs can consider similar products like sovereign bonds or FCNR deposits instead.