Senior Citizen Savings Scheme (SCSS): Quarterly Payout Explained
By the QuickYield Team · Published August 24, 2026 · 5 min read
How much does SCSS pay quarterly on ₹15 lakh? At the current 8.2% rate, approximately ₹30,750 every quarter — ₹1,23,000 a year — with your full ₹15 lakh principal returned when the scheme matures.
Who SCSS is actually for
Senior Citizen Savings Scheme is restricted to individuals 60 and above (or 55+ for those who’ve retired under specific voluntary/special retirement schemes), and it’s specifically structured to generate steady quarterly income rather than a lump sum at the end — a natural fit for retirees who need predictable cash flow instead of long-term growth.
Quarterly payout table by deposit amount
At the current 8.2% rate:
| Deposit | Quarterly payout | Annual income |
|---|---|---|
| ₹5,00,000 (5 lakh) | ₹10,250 | ₹41,000 |
| ₹10,00,000 (10 lakh) | ₹20,500 | ₹82,000 |
| ₹15,00,000 (15 lakh) | ₹30,750 | ₹1,23,000 |
| ₹30,00,000 (30 lakh, max) | ₹61,500 | ₹2,46,000 |
SCSS vs POMIS: which one for retirement income?
Both pay out interest regularly rather than compounding it, but SCSS pays quarterly (POMIS pays monthly) and typically carries a somewhat higher rate, while allowing a larger maximum deposit — ₹30 lakh versus POMIS’s ₹9 lakh single / ₹15 lakh joint. SCSS also qualifies for Section 80C deduction, which POMIS doesn’t. For someone who specifically needs monthly cash flow, POMIS’s payout frequency may matter more than SCSS’s typically higher rate — compare both with our POMIS Calculator and SCSS Calculator.
Frequently asked questions
›Who is eligible to open an SCSS account?
Individuals aged 60 and above, or 55+ if retired under a voluntary or special retirement scheme (subject to specific conditions on when the account must be opened after retirement).
›Is SCSS interest taxable?
Yes — SCSS interest is fully taxable as per your income tax slab, and TDS applies if your total SCSS interest in a year crosses the applicable threshold.
›What is the maximum SCSS deposit?
₹30 lakh per individual (or jointly with a spouse, where the entire amount is attributed to the first holder for the deposit limit).
›Can SCSS be extended beyond 5 years?
Yes — SCSS can be extended once for an additional 3 years after the initial 5-year maturity, by submitting a request within a year of maturity.
Try it yourself
Open the SCSS Calculator →
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This article is for general information only and isn’t financial, tax, or legal advice. See our disclaimer.