SCSS Calculator - Rs 5 Lakh Investment
SCSS pays 8.2% per annum in quarterly installments. On Rs 5 lakh, you receive Rs 10,250 every quarter (Rs 41,000/year). The principal is returned at maturity after 5 years. SCSS accounts can be opened at all post offices and designated PSU bank branches with Aadhaar and PAN.
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 Calculator - Rs 5 Lakh Investment
What is the maximum investment in SCSS?
Maximum SCSS investment: Rs 30 lakh per individual. A couple can together invest Rs 60 lakh (Rs 30 lakh each). If you have both individual and joint accounts, the joint account balance is counted equally for both partners toward their individual Rs 30 lakh limit. The Rs 30 lakh limit was raised from Rs 15 lakh in 2023.
Is SCSS interest taxable?
Yes. SCSS interest is fully taxable at your income tax slab rate. At Rs 30 lakh maximum deposit and 8.2%, annual interest is Rs 2.46 lakh. After deducting Rs 50,000 under Section 80TTB (senior citizen interest exemption), taxable interest is Rs 1.96 lakh. At 20% tax bracket, tax = Rs 39,200. Post-tax yield drops to about 6.4% for a 20% taxpayer.
Can I open SCSS at a private bank?
No. SCSS accounts can only be opened at post offices or authorized public sector banks (SBI, PNB, Bank of Baroda, Canara Bank, etc.). Private banks like HDFC and ICICI are not authorized for SCSS. You need to visit the branch in person with your age proof (for eligibility), Aadhaar, PAN, and a cheque or demand draft.