Revised rates of Interest wef 01.01.2024 for Small Savings Schemes – SB Order No. 23/2023

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 Revised rates of Interest wef 01.01.2024 for Small Savings Schemes – SB Order No. 23/2023

SB Order No. 23 / 2023

F. No 113-03/2017-SB(Pt.1)
Government of India
Ministry of Communications
Department of Posts
(Financial Services Division)

Dak Bhawan, New Delhi — 110001
Dated: 29.12.2023

To

All Head of Circles/Regions

Subject: Revision of interest rates for Small Savings Schemes w.e.f. 01.01.2024

Madam / Sir,

The undersigned is directed to say that, vide memorandum No. 1/4/2019-NS dated 29.12.2023 (copy enclosed), Government of India, Ministry of Finance, Department of Economic Affairs (Budget Division) has informed that the rate of interest on various Small Savings Schemes (National 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 under.

View: Post Office Savings Bank Schemes – Interest Rates & Maturity Values Table w.ef. 01.01.2024 to 31.03.2024

Sl. No.Instrument / SchemeRate of Interest from 01.10.2023 to 31.12.2023Rate of Interest from 01.01.2023 to 31.01.2024
1.Post Office Savings Account4.04.0
2.1 Year Time Deposit6.96.9
3.2 Year Time Deposit7.07.0
4.3 Year Time Deposit7.07.1
5.5 Year Time Deposit7.57.5
6.5 Year Recurring Deposit6.76.7
7.Senior Citizen Savings Scheme8.28.2
8.Monthly Income Account Scheme7.47.4
9.Sukanya Samriddhi Account Scheme8.08.2
10.Public Provident Fund Scheme7.17.1
11.National Savings Certificate7.77.7
12.Kisan Vikas Patra7.5
(will mature in 115 months)		7.5
(will mature in 115 months)
2. It is requested to circulate it to all concerned for information and necessary guidance. Same may also be placed on the notice board of all Post Offices in public area. The relevant calculation tables, if any, will be supplied in due course on receipt from the DEA/MoF. 3. This is issued with the approval of the Competent Authority.

(T.C.VIJAYAN)
Assistant Director (SB-I)

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