Revision rates of interest for Small Savings Schemes w.e.f. 01.01.2024 – SB Order No. 23/2023

Revision rates of interest for Small Savings Schemes w.e.f. 01.01.2024 – SB Order No. 23/2023 dated 29.12.2023

SB Order No. 23 / 2023

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: 29.12.2023

To

All Head of Circles/Regions

Subject: Revision of interest rates for Small Savings Schemes w.e.f. 01.01.2024

Madam / Sir,

The undersigned is directed to say that, vide memorandum No. 1/4/2019-NS dated 29.12.2023 (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 fourth quarter of financial year 2023-24 (starting from 1st January, 2024 and ending on 31st March, 2024) have been revised as under.

Sl. No.	Instrument / Scheme	Rate of Interest from 01.10.2023 to 31.12.2023	Rate of Interest from 01.01.2023 to 31.01.2024
1.	Post Office Savings Account	4.0	4.0
2.	1 Year Time Deposit	6.9	6.9
3.	2 Year Time Deposit	7.0	7.0
4.	3 Year Time Deposit	7.0	7.1
5.	5 Year Time Deposit	7.5	7.5
6.	5 Year Recurring Deposit	6.7	6.7
7.	Senior Citizen Savings Scheme	8.2	8.2
8.	Monthly Income Account Scheme	7.4	7.4
9.	Sukanya Samriddhi Account Scheme	8.0	8.2
10.	Public Provident Fund Scheme	7.1	7.1
11.	National Savings Certificate	7.7	7.7
12.	Kisan Vikas Patra	7.5 (will mature in 115 months)	7.5 (will mature in 115 months)

(T.C.VIJAYAN)
Assistant Director (SB-I)

Source: Department of Posts