The Ministry of Finance, Department of Economic Affairs, Budget Division, Government of India, has issued an Office Memorandum dated September 29, 2023, regarding the revision of interest rates for Small Savings Schemes for the second quarter of the financial year 2023-24, effective from October 1, 2023, to December 31, 2023.
Revision of interest rates for Small Savings Schemes
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 second 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 | 4 |
| 1 Year Time Deposit | 6.9 | 6.9 |
| 2 Year Time Deposit | 7 | 7 |
| 3 Year Time Deposit | 7 | 7 |
| 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 | 8 |
- This has the approval of competent authority.
(Kapil Patidar)
Deputy Secretary (Budget)
Tele – 01123092649