At the 8.2% annual rate listed by India Post, a ₹30 lakh Senior Citizen Savings Scheme (SCSS) deposit works out to ₹61,500 gross interest for a full quarter. Its annualised interest is ₹2,46,000, or a ₹20,500 monthly average equivalent—but SCSS pays interest quarterly, not monthly. The rate is subject to government revision, so check the rate that applies to your deposit period.
How much interest will ₹30 lakh earn in SCSS?
Using the 8.2% per annum rate listed by India Post, the gross annualised calculation is:
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₹30,00,000 × 0.082 = ₹2,46,000 per year
For a full quarter, divide that annualised figure by four: ₹2,46,000 ÷ 4 = ₹61,500. These are arithmetic illustrations based on the stated principal and rate, not a promise of a particular first payment or a tax-adjusted return.
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What is ₹30 lakh SCSS interest per month?
Dividing ₹2,46,000 by 12 gives a monthly income equivalent of ₹20,500. This is useful as a budgeting average, but SCSS does not credit ₹20,500 every month. Interest is paid quarterly.
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Does SCSS pay monthly or quarterly?
The National Savings Institute scheme information says interest is payable on the first working day of April, July, October and January, for the preceding interest period ending on 31 March, 30 June, 30 September or 31 December, respectively. The first payment period runs from the deposit date to the relevant quarter-end, so it may not represent a full quarter. The amount and date of an individual credit can depend on the deposit date and account operations.
Is 8.2% the rate for the full five years?
No. India Post lists SCSS at 8.2% per annum, but small-savings rates can be revised by the government. The Department of Economic Affairs small-savings page lists a rate revision dated 30 September 2026 for Q3 2026–27. Check the scheme-specific rate applicable to your deposit or current quarter; do not assume the rate will remain unchanged throughout the account term.
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Can you deposit ₹30 lakh in SCSS?
₹30 lakh is the maximum deposit stated in State Bank of India’s SCSS information, which was marked last updated 7 February 2026. The page lists eligibility for people aged 60 or older, certain retired people aged 55 to under 60, and retired defence personnel aged 50 or older. Eligibility conditions apply; confirm the current official rules and account-provider requirements before opening or funding an account.
What can change the amount you receive?
- Rate revisions: the calculation above uses 8.2% per annum and does not project that rate through the full five-year maturity term.
- First-period timing: the initial interest period is based on the deposit date and may be shorter than a full quarter.
- Tax: ₹61,500 and ₹20,500 are gross figures. Your net outcome depends on applicable tax rules and personal circumstances; no tax or TDS amount is deducted here.
- Unclaimed interest: SBI’s scheme information says unclaimed interest does not earn additional interest.
For context, SBI describes SCSS as maturing after five years, with an option to extend by three years. For operating procedures, including deposit methods, check current guidance from the account provider; older procedural information may have changed.
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