Revision of interest rates for Small Savings Schemes for Q1 of 2023-24 (i.e. from 1st April, 2023 to 30th June, 2023)
Interest rates of small saving schemes for the First quarter of financial year 2023-24 starting from 1st April, 2023 and ending on 30th June, 2023. Small saving schemes includes PPF, NSC, Senior Citizen Savings Schemes, Sukanya Samriddhi Account Scheme, Kisan Vikas Patra of GoI.
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 |
| 1 Year 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 |
71 | 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)
To,
1. The Finance Secretary & Secretary Expenditure, Department of Expenditure North Block, New Delhi.
2. The Secretary, Department of Economic Affairs North Block, New Delhi.
3. The Secretary, Department of Revenue North Block, New Delhi.
4. The Secretary, Department of Financial Services Jeevan Deep Building, New Delhi.
5. The Secretary, Department of Posts Dak Bhawan, New Delhi.
6. The Chief General Manager (DGBA) Reserve Bank of India, Central Office, Mumbai.
7. Reserve Bank of India Central Account Section, Additional Office Building, East High Court Road, Civil Lines, P.B. No.15, Nagpur – 440 001.
8. Chief Secretaries of States / UT Government
9. The Joint Director National Savings Institute, New Delhi.
Also Read:
Interest rates of small saving schemes for January 23 to March 23
Interest rates of small saving schemes for October 22 to December 22
Interest rates of small saving schemes for July 22 to September 22
Interest rates of small saving schemes for April 22 to June 22
Interest rates of small saving schemes for Jan 22 to Mar 22
Interest Rate on Small Savings Schemes for Oct 21 to Dec 21
Interest Rates for National (Small) Savings Schemes w.e.f. 01.07.2021
