Check the new interest rates for Time Deposit (TD), Public Provident Fund (PPF), Sukanya Samriddhi account, Senior Citizen Savings Schemes (SCSS), Recurring Deposit (RD), National Savings Certificate (NSC), Kisan Vikas Patra (KVP), Monthly Income Scheme (MIS), PO Savings Deposit Account Schemes.
Interest rates of all post office small savings schemes are revised on a quarterly basis. People can check the Post Office Savings Scheme Interest Rate Table 2023 to get knowledge on interest applicable b/w 1 October to 31 December 2023.
Post Office Small Saving Scheme Interest Rate Table
We are hereby mentioning the table which shows rate of interest for small savings scheme in Post Office for 1 Oct 2023 to 31 December 2023 time frame.| Savings Deposit | 4% |
| 1 Year Time Deposit | 6.9% |
| 2 Year Time Deposit | 7.0% |
| 3 Year Time Deposit | 7.0% |
| 5 Year Time Deposit | 7.5% |
| Five Year Recurring Deposit | 6.7% |
| Senior Citizen Savings Scheme | 8.2% |
| Monthly Income Scheme | 7.4% |
| National Savings Certificate | 7.7% |
| Public Provident Fund Scheme | 7.1% |
| Kisan Vikas Patra | 7.5% (115 months) |
| Sukanya Samriddhi Yojana Account | 8.0% |
Increase in Small Savings Scheme Interest Rate
The finance ministry has raised interest rates on some small savings schemes for the July-September quarter, the fourth quarterly increase in a row. The rates on the various instruments have been raised upto 20 basis points. Now interest rates on small saving scheme range from 4.0% to 8.2%, as per the statement issued on 30 June 2023.
The small savings scheme interest rates, while set by the government, are linked to market yields on government securities at a spread of 0-100 basis points over the yield of these securities of comparable maturities. However, interest rates on small savings have not always tracked the movement in market rates.
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