Small Savings Scheme Interest Rate 2023-24
The Department of Economic Affairs, Government of India has released the rate of interest on Small Savings Schemes for the 3rd quarter of financial year 2023-24 starting from 1st October 2023 to 31st December 2023 – Doe Order Dated on 29.09.2023
Revision of interest rates for Small Savings Schemes for the 3rd quarter of financial year 2023-24 from 01.10.2023 to 31.12.2023
5 Year Recurring Deposit interest rate increased to 6.7% for the period 01.10.2023 to 31.12.2023
F.No.1/4/2019-NS
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
North Block, New Delhi
Dated: 29.09.2023
OFFICE MEMORANDUM
Subject: Revision of interest rates for Small Savings Schemes – reg.
The rates of interest on various Small Savings Schemes for the third quarter of financial year 2023-24 starting from 1st October, 2023 and ending on 31st December, 2023 have been revised as detailed below:
Instrument | Rates of interest from 01.07.2023 to 30.09.2023 | Rates of interest from 01.10.2023 to 31.12.2023 |
Saving 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 | 7.0 |
5 Year Time Deposit | 7.5 | 7.5 |
5 Year Recurring Deposit | 6.5 | 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 | 8.0 |
2. This has the approval of competent authority.
(Kapil Patidar)
Deputy Secretary (Budget)
Tele – 01123092649
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