SCSS stands for Senior Citizen Savings Scheme & SCSS has been effective from 2-August-2004.
It offers a regular stream of income with the highest safety.
Attractive interest rate along with tax-saving benefits (Section 80C of the Income Tax Act, 1961).
SCSS calculator 2022 & Interest Rate calculator is exceptionally helpful utility for figuring maturity sum and premium earned.
Important Points for SCSS
- Maturity tenure : 5 year
The account can be extended for further 3 years within one year of the maturity by giving application in prescribed format.
- Deposit Limit : There shall be only one deposit in the account in multiple of INR.1000/- Maximum not exceeding INR 15 lakh.
- Interest rates : From 01.01.2022 7.4 % per annum.
How to Use the SCSS Calculator?
Senior citizen savings scheme & Interest rate Calculator 2022 is straightforward.
You simply need to enter your investment sum, and perform computation. it will show maturity sum and premium total earned.
Senior Citizen Savings Interest rate
|Time Interval||Interest (% Yearly)|
|Q4- Jan to March 2021||7.4|
|Q3- October to December 2020||7.4|
|Q2- July to September 2020||7.4|
|Q1 April to June 2020||7.4|
|Q4 Jan to March 2019||8.6|
|Q3 Oct to Dec 2019||8.6|
|Q2 Jul to Sep 2019||8.6|
|Q1 Apr to Jun 2019||8.7|
|Q4 Jan to March 2019||8.7|
|Q3 Oct to Dec 2018||8.7|
|Q2 Jul to Sep 2018||8.3|
|Q1 Apr to Jun 2018||8.3|
|Q4 Jan to March 2018||8.3|
|Q3 Oct to Dec 2017||8.3|
|Q2 Jul to Sep 2017||8.3|
|Q1 Apr to Jun 2017||8.4|
In short, this is a standout amongst other plan for our senior resident unit post their retirement period which will give the consistent and good interest along with government security.