revision of interest rates

Revision of Interest Rates for the Fourth Quarter of FY 2023

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

ParticularsInterest rates till 31st Dec 2022
Saving Deposit4.0
1-Year Time Deposit5.5
2-Year Time Deposit5.7
3-Year Time Deposit5.8
5-Year Time Deposit6.7
5-Year Recurring Deposit5.8
Senior Citizen Savings Scheme7.6
Monthly Income Account Scheme6.7
National Savings Certificate6.8
Public Provident Fund Scheme7.1
Kisan Vikas Patra7.0
Sukanya Samridhi Account7.6
Interest Rates till 31.12.2022

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

ParticularsInterest rates till 31st Dec 2022Rate of Interest Rates from 01.01.2023 to 31.03.2023
Saving Deposit4.04.0
1-Year Time Deposit5.56.6
2-Year Time Deposit5.76.8
3-Year Time Deposit5.86.9
5-Year Time Deposit6.77.0
5-Year Recurring Deposit5.85.8
Senior Citizen Savings Scheme7.68.0
Monthly Income Account Scheme6.77.1
National Savings Certificate6.87.0
Public Provident Fund Scheme7.17.1
Kisan Vikas Patra7.07.2
Sukanya Samridhi Account7.67.6
Old and new interest rates

2. This has the approval of the competent authority.

To,

  1. The Finance Secretary & Secretary Expenditure, Department of Expenditure North Block, New Delhi.
  2. The Secretary,

Department of Economic Affairs North Block, New Delhi.

  1. The Secretary, Department of Revenue North Block, New Delhi.
  2. The Secretary,

Department of Financial Services Jeevan Deep Building, New Delhi.

  1. The Secretary,

Department of Posts Dak Bhawan, New Delhi.

  1. The Chief General Manager (DGBA) Reserve Bank of India, Central Office, Mumbai.
  2. Chief Secretaries of States UT

Government

  1. Reserve Bank of India Central Account Section, Additional Office Building, East High Court Road, Civil Lines, P.B. No.15, Nagpur-440 001.
  2. The Joint Director National Savings Institute, New Delhi.
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