Revision of interest rates for Small Savings Schemes w.e.f. 01.01.2024 for the fourth quarter of financial year 2023-24

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Revision of interest rates for Small Savings Schemes w.e.f. 01.01.2024 for the fourth quarter of financial year 2023-24

Revision of interest rates for Small Savings Schemes w.e.f. 01.01.2024 for the fourth quarter of financial year 2023-24: Department of Economic Affairs OM dated 29.12.2023

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

Revision of interest rates for Small Savings Schemes w.e.f. 01.10.2023 for the second quarter of financial year 2023-24

2. This has the approval of competent authority.

(Kapil Patidar)
Deputy Secretary (Budget)
Tele – 01123092649

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