Small Savings Schemes Interest Rate for the 1st Qtr of FY 2023-24 from 01.04.2023 to 30.06.2023: Hike in Time Deposit, SCSS, MIS, NSC & KVP, SSAS interest rate
F.No.1/4/2019-NS
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
North Block, New Delhi
Date: March 31, 2023
OFFICE MEMORANDUM
Subject: Revision of interest rates for Small Savings Schemes – reg.
The rates of interest on various Small Savings Schemes for the first quarter of financial year 2023-24 starting from 1st April, 2023 and ending on 30th June, 2023 have been revised as detailed below:
Instrument | Rates of interest from 01.01.2023 to 31.03.2023 | Rates of interest from 01.04.2023 to 30.06.2023 |
Savings Deposit | 4.0 | 4.0 |
1Year Time Deposit | 6.6 | 6.8 |
2 Year Time Deposit | 6.8 | 6.9 |
3 Year Time Deposit | 6.9 | 7.0 |
5 Year Time Deposit | 7.0 | 7.5 |
5 Year Recurring Deposit | 5.8 | 6.2 |
Senior Citizen Savings Scheme | 8.0 | 8.2 |
Monthly Income Account Scheme | 7.1 | 7.4 |
National Savings Certificate | 7.0 | 7.7 |
Public Provident Fund Scheme | 7.1 | 7.1 |
Kisan Vikas Patra | 7.2 (will mature in 120 months) | 7.5 (will mature in 115 months) |
Sukanya Samriddhi Account Scheme | 7.6 | 8.0 |
2. This has the approval of competent authority.
(Kapil Patidar)
Deputy Secretary (Budget)
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