Senior Citizen FD Calculator
Calculate Senior Citizen Savings Scheme and FD returns with special rates
FD Details
SCSS max limit: ₹30 lakhs per individual
SCSS rate: 8.2% | Banks offer 0.25-0.75% extra for seniors
Maturity Amount
₹22.51 L
Principal
₹15.00 L
Total Interest
₹7.51 L
Effective Rate
8.20%
Principal vs Interest
Principal (66.6%)Interest (33.4%)
Tax Implications
Annual Interest₹1.23 L
80TTB Deduction (max ₹50,000)-₹50,000
TDS Threshold₹50,000
TDS StatusApplicable: ₹7,300
* Submit Form 15H to avoid TDS if total income is below taxable limit
Year-wise Growth
| Year | Opening | Interest | Closing |
|---|---|---|---|
| 1 | ₹15.94 L | +₹1.31 L | ₹16.27 L |
| 2 | ₹17.29 L | +₹1.42 L | ₹17.64 L |
| 3 | ₹18.75 L | +₹1.54 L | ₹19.14 L |
| 4 | ₹20.34 L | +₹1.67 L | ₹20.75 L |
| 5 | ₹22.06 L | +₹1.81 L | ₹22.51 L |
Senior Citizen Benefits
SCSS Benefits
- Highest interest rate among govt schemes (8.2%)
- 5-year tenure, extendable by 3 years
- Maximum investment: ₹30 lakhs
- Quarterly interest payout
- Section 80C benefit on investment
Tax Benefits for Seniors
- Section 80TTB: ₹50,000 deduction on interest
- Higher TDS threshold: ₹50,000 (vs ₹40,000)
- Form 15H to avoid TDS
- Higher basic exemption limit
- 0.25-0.75% extra interest at banks