Small Savings Schemes Interest Rate for the first quarter of FY 2023-24
Small Savings Schemes Interest Rate for the first quarter of FY 2023-24 starting from 1st April, 2023 and ending on 30th June, 2023
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)
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
Additional Office Building
East High Court Road, Civil Lines, P.B. No.15,
Nagpur — 440 001.
8 Chief Secretaries of States / UT Section Government
9. The Joint Director
National Savings Institute, New Delhi.
Source: Department of Economic Affairs