Revision of interest rates for Small Savings Schemes w.e.f. 01.01.2024 for the fourth quarter of financial year 2023-24: Department of Economic Affairs OM dated 29.12.2023
F.No.1/4/2019-NS
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
North Block, New Delhi
Dated: 29.12.2023
OFFICE MEMORANDUM
Subject: Revision of Interest Rates for Small Savings Schemes – reg.
The rates of interest on various Small Savings Schemes for the fourth quarter of financial year 2023-24 starting from 1st January, 2024 and ending on 31st March, 2024 have been revised as detailed below:
| Instrument | Rates of interest from 01.10.2023 to 31.12.2023 | Rates of interest from 01.01.2024 to 31.03.2024 |
| Savings Deposit | 4.0 | 4.0 |
| 1 Year Time Deposit | 6.9 | 6.9 |
| 2 Year Time Deposit | 7.0 | 7.0 |
| 3 Year Time Deposit | 7.0 | 7.1 |
| 4 Year Time Deposit | 7.5 | 7.5 |
| 5 Year Recurring Deposit | 6.7 | 6.7 |
| Senior Citizen Savings Scheme | 8.2 | 8.2 |
| Monthly Income Account Scheme | 7.4 | 7.4 |
| National Savings Certificate | 7.7 | 7.7 |
| Public Provident Fund Scheme | 7.1 | 7.1 |
| Kisan Vikas Patra | 7.5 (will mature in 115 months) | 7.5 (will mature in 115 months) |
| Sukanya Samriddhi Account Scheme | 8.0 | 8.2 |
2. This has the approval of competent authority.
(Kapil Patidar)
Deputy Secretary (Budget)
Tele – 01123092649
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