Revision of Interest Rates for Small Savings Schemes
The Office Memorandum, F.No.1/4/2019-NS, issued by the Ministry of Finance, Department of Economic Affairs, announces the revision of interest rates for Small Savings Schemes in India for the fourth quarter of the financial year 2023-24. The revised rates, applicable from January 1, 2024, to March 31, 2024.
F.No.1/4/2019-NS
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
North Block, New Delhi
Dated: 29.12.2023
OFFICE MEMORANDUM
Subject: Revision of Interest Rates for Small Savings Schemes – reg.
The rates of interest on various Small 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 detailed below:
| Instrument | Rates of interest from 01.10.2023 to 31.12.2023 | Rates of interest from 01.01.2024 to 31.03.2024 |
|---|---|---|
| Savings 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 | 7.1 |
| 4 Year Time Deposit | 7.5 | 7.5 |
| 5 Year Recurring Deposit | 6.7 | 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 | 8.2 |
2. This has the approval of competent authority.
(Kapil Patidar)
Deputy Secretary (Budget)
Tele – 01123092649
Source Document PDF