Open at 60+ (55+ for retired civilians under VRS, 50+ for defence retirees). Interest is paid every quarter and is taxable; deposits qualify for 80C in the old regime. TDS applies above ₹1 lakh interest a year for seniors.
FAQ
How much interest on ₹15 lakh in SCSS?
₹30,750 every quarter at 8.2%.
Sources (checked 6 Nov 2026): Ministry of Finance small savings rates (Oct–Dec 2026).