SB Order 19/2023: Revision of Post Office interest rates for Small Savings Schemes (POSB) w.e.f. 01.10.2023

SB Order No 19/2023: Revision of interest rates for Small Savings Schemes (POSB) w.e.f. 01.10.2023. Download SB Order 19/2023 in PDF

Post Office Small Savings Scheme Interest Rates from 01st October 2023:

Post Office Savings Scheme Name	Post Office Interest Rates from 01.10.2023 to 31.12.2023	Post Office Interest Rate from 01.07.2023 to 30.09.2023
Savings Bank A/c	04%	04%
Recurring Deposit Account	6.7%	6.5%
Term Deposit 1year/2 years/3 years/5 years	6.9%, 7.0%,7.0% & 7.5%	6.9%, 7.0%,7.0% & 7.5%
Monthly Income Scheme	7.4%	7.4%
National Savings Certificate(NSC)	7.7%	7.7%
Kisan Vikas Patra (KVP)	7.5% (115 Months)	7.5% (115 Months)
Public Provident Fund (PPF)	7.1%.	7.1%.
Senior Citizen Saving Scheme	8.2%	8.2%
Sukanya Samriddhi Yojana	8.0%	8.0%

F. No tt3-0312017-SB(Pt.1) Government of India Ministry of Communications Department of Posts (financial Services Division) Dak Bhawan, New Delhi - 110001 Dated: 29.09.2023

To, All Head of Circles/Regions

Subject: Revision of interest rates for Small Savings Schemes w.e.f. 01.10.2023 

Madam / Sir,

The undersigned is directed to say that, vide memorandum No. 1/4/2019-NS dated 29.09.2023 (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 third quarter of financial year 2023-24 (starting from 1st October, 2023 and ending on 31st December,2023) have been revised as under.

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 will be supplied in due course on receipt from the DEA/MoF.

3. This is issued with the approval of the Competent Authority.