SCSS Calculator

You must be at least 60 years old. Individuals aged 55-60 who retired under voluntary or superannuation schemes may also qualify. Retired defense personnel can open regardless of age.

Yes, you can extend by 3 additional years. Interest rate at extension time applies. Must submit extension within 1 year of maturity.

Interest is fully taxable per income slab. No TDS deducted. Principal up to 1,50,000 qualifies for 80C deduction.

PMVVY (Pradhan Mantri Vaya Vandana Yojana) is a pension scheme offering monthly, quarterly, half-yearly, or annual payouts for life. SCSS has a fixed 5-year term with principal returned at maturity. SCSS offers higher returns but is not a lifetime pension.

No, SCSS is only available to Indian residents. Non-resident Indians (NRIs) are not eligible to open SCSS accounts. However, resident Indians who later become NRIs can continue holding the account until maturity.

Yes, SCSS accounts can be opened online through the India Post website if you have a post office savings account. For bank SCSS offered by SBI and some other banks, you can open it through net banking. A physical visit may be required for first-time account opening.

The maximum investment limit for SCSS is Rs 30 lakhs per individual. For joint accounts, the limit applies per account. Each individual can open multiple SCSS accounts up to the cumulative limit of Rs 30 lakhs across all accounts.

SCSS offers government-backed guarantee with typically higher rates around 8.2% compared to senior citizen FDs at 7-8%. SCSS has a fixed 5-year term extendable by 3 years with quarterly interest payouts, while FDs offer more flexible tenures and payout options.

No, the maximum is Rs 30 lakhs per individual. However, you and your spouse can each open separate accounts up to Rs 30 lakhs each, bringing a total of Rs 60 lakhs for a couple. The interest on the full amount is paid quarterly.

You need valid identity proof (Aadhaar, PAN, Voter ID, Passport), address proof, age proof, passport-size photographs, and the application form. For post office accounts, you also need a post office savings account for interest credit.