Revision of interest rates for Small Savings Schemes w.e.f. 01.01.2023
The Indian government has updated the interest rates for Small Savings Schemes starting from January 1, 2023. The update was made based on the fourth quarter of the fiscal year 2022-23, as per the SB Order No. 26/2022 dated December 30, 2022. The Ministry of Communications received notifications from the Department of Economic Affairs, Ministry of Finance, dated January 20, 2023, about the revision of interest rates for the Kisan Vikas Patra, National Savings Time Deposit, National Savings Certificates (VIII Issue), National Savings (Monthly Income Account), and Senior Citizens’ Savings Schemes.
SB Order No. 26 / 2022
No. 113-03/2017-SB(Pt.1)
Govt. of India
Ministry of Communications
Department of Posts
(F.S. Division).
Dak Bhawan, New Delhi – 110001
Dated: 30.01.2023
Corrigendum / Addendum
To
All Heads of Circles / Regions
Subject: Revision of interest rates for Small Savings Schemes w.e.f. 01.01.2023.
Madam / Sir,
Kindly refer the SB Order No. 26/2022 dated 30.12.2022 issued in connection with the subject cited above. In para 1 of the said order, “third quarter’ may be read as “fourth quarter’.
2. In connection with the revision of interest w.e.f. 01.01.2023, the undersigned is directed to forward copies of gazette notifications issued by Department of Economic Affairs, Ministry of Finance in connection with the revision of interest rates for fourth quarter of FY 2022-23 for further necessary actions. Copies of the following notifications dated 20.01.2023 are enclosed.
(i). G.S.R. 52(E) Kisan Vikas Patra (Amendment) Scheme, 2023
(ii). G.S.R. 53(E) National Savings Time Deposit (Amendment) Scheme, 2023
(iii). G.S.R. 54(E) National Savings Certificates (VIII Issue) (Amendment) Scheme, 2023
(iv). G.S.R. 55(E) National Savings (Monthly Income Account) (Amendment) Scheme, 2023
(v). G.S.R. 56(E) Senior Citizens’ Savings (Amendment) Scheme, 2023
3. This is issued with the approval of Competent Authority.
(T C VIJAYAN)
Asst. Diréctor (SB-I)