Revision of Interest Rates: The Ministry of Finance (MOF) has issued an announcement vide F.No.1/4/2019-NS regarding the revision of interest rates for the small savings scheme for the fourth quarter of FY 2022 – 2023.
Old Interest Rates
Currently, the interest rates for
Particulars | Interest rates till 31st Dec 2022 |
---|---|
Saving Deposit | 4.0 |
1-Year Time Deposit | 5.5 |
2-Year Time Deposit | 5.7 |
3-Year Time Deposit | 5.8 |
5-Year Time Deposit | 6.7 |
5-Year Recurring Deposit | 5.8 |
Senior Citizen Savings Scheme | 7.6 |
Monthly Income Account Scheme | 6.7 |
National Savings Certificate | 6.8 |
Public Provident Fund Scheme | 7.1 |
Kisan Vikas Patra | 7.0 |
Sukanya Samridhi Account | 7.6 |
The Ministry of Finance (MOF) has issued a memorandum
Subject: Revision of Interest Rates for Small Saving Schemes
The rates of interest on various Small Savings Schemes for the fourth quarter of the FY 2022-23 starting from 1st January, 2023 and ending on 31st March, 2023 have been revised as detailed below:
Revised Interest Rates from 1st Jan 2023
Particulars | Interest rates till 31st Dec 2022 | Rate of Interest Rates from 01.01.2023 to 31.03.2023 |
---|---|---|
Saving Deposit | 4.0 | 4.0 |
1-Year Time Deposit | 5.5 | 6.6 |
2-Year Time Deposit | 5.7 | 6.8 |
3-Year Time Deposit | 5.8 | 6.9 |
5-Year Time Deposit | 6.7 | 7.0 |
5-Year Recurring Deposit | 5.8 | 5.8 |
Senior Citizen Savings Scheme | 7.6 | 8.0 |
Monthly Income Account Scheme | 6.7 | 7.1 |
National Savings Certificate | 6.8 | 7.0 |
Public Provident Fund Scheme | 7.1 | 7.1 |
Kisan Vikas Patra | 7.0 | 7.2 |
Sukanya Samridhi Account | 7.6 | 7.6 |
2. This has the approval of the competent authority.
To,
- The Finance Secretary & Secretary Expenditure, Department of Expenditure North Block, New Delhi.
- The Secretary,
Department of Economic Affairs North Block, New Delhi.
- The Secretary, Department of Revenue North Block, New Delhi.
- The Secretary,
Department of Financial Services Jeevan Deep Building, New Delhi.
- The Secretary,
Department of Posts Dak Bhawan, New Delhi.
- The Chief General Manager (DGBA) Reserve Bank of India, Central Office, Mumbai.
- Chief Secretaries of States UT
Government
- Reserve Bank of India Central Account Section, Additional Office Building, East High Court Road, Civil Lines, P.B. No.15, Nagpur-440 001.
- The Joint Director National Savings Institute, New Delhi.
Regulatory Impact Assessment (RIA) for revision of existing Accounting
Post Office Saving Account | Now Maintaining Minimum Balance is
Know All About QRMP Scheme Under GST
Cash Deposit or Cash Withdrawal Limit in Saving or Current Account
Important Income Tax Due Dates for October 2021