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.
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