Revision of interest rates for Small Savings Schemes w.e.f. 01.01.2023 – SB Order No. 26/2022
SB Order No. 26/2022
F. No 113-03/2017-SB(Pt. 1)
Government of India
Ministry of Communications
Department of Posts
(Financial Services Division)
Dak Bhawan, New Delhi — 110001
Dated: 30.12.2022
To
All Head of Circles/Regions
Subject: Revision of interest rates for Small Savings Schemes w.e.f. 01.01.2023
Madam / Sir,
The undersigned is directed to say that, vide memorandum No. 01/04/2019-NS dated 30.12.2022 (copy enclosed), Government of India, Ministry of Finance, Department of Economic Affairs (Budget Division) has informed that the rate of interest on various Small Savings Schemes (National Savings Schemes) for the third quarter of financial year 2022-23 (starting from 1st January, 2023 and ending on 31st March, 2023) have been revised as under.
| Sl. No. | Instrument / Scheme | Rates of interest from 01.10.2022 to 31.12.2022 | Rates of interest from 01.01.2023 to 31.03.2023 |
| 1. | Post Office Savings Deposit | 4.0 | 4.0 |
| 2. | 1 Year Time Deposit | 5.5 | 6.6 |
| 3. | 2 Year Time Deposit | 5.7 | 6.8 |
| 4. | 3 Year Time Deposit | 5.8 | 6.9 |
| 5. | 5 Year Time Deposit | 6.7 | 7.0 |
| 6. | 5 Year Recurring Deposit | 5.8 | 5.8 |
| 7. | Senior Citizen Savings Scheme | 7.6 | 8.0 |
| 8. | Monthly Income Account Scheme | 6.7 | 7.1 |
| 9. | Sukanya Samriddhi Account Scheme | 7.6 | 7.6 |
| 10. | Public Provident Fund Scheme | 7.1 | 7.1 |
| 11. | National Savings Certificate | 6.8 | 7.0 |
| 12. | Kisan Vikas Patra | 7.0 (will mature in 123 months |
7.2 (will mature in 120 months) |
2. It is requested to circulate it to all concerned for information and necessary guidance. Same may also be placed on the notice board of all Post Offices in public area. The relevant calculation tables will be supplied in due course on receipt from the DEA/MoF.
3. This is issued with the approval of the Competent Authority.
(T.C.VIJAYAN)
Assistant Director (SB-I)
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