Government Revised Interest Rates for NSC, PPF and Other Small Savings Schemes

03 October 2023
1 min read
Government Revised Interest Rates for NSC, PPF and Other Small Savings Schemes
whatsapp
facebook
twitter
linkedin
telegram
copyToClipboard

The government of India has released a memorandum revising the interest rates for Small Savings Schemes.

Details of the Revision

Here are the details of the revised rates-

Instruments

Rate of Interest

1 Year time deposit

6.9%

2 Year time deposit

7.0%

3 Year time deposit

7.0%

5 Year time deposit

7.5%

5 year recurring deposit

6.7%

Senior citizen savings scheme

8.2%

Monthly Income account

7.4%

National Savings Certificate 

7.7%

Public Provident Fund Scheme

7.1%

Kisan Vikas Patra

7.5%

Sukanya Samriddhi Yojana Scheme

8.0%

With immediate effect, the interest rates of term deposits, Kisan Vikas Patra, National Savings Certificate, Public Provident Fund, and a few other Small Savings Schemes have changed from the last quarter.

Why Have the Rates Been Changed?

The government always reviews the interest rates on Small Savings Schemes every quarter. The revision is based on bond yields. Last month, the Economic Affairs Secretary had hinted towards this revision to ensure faster transmission of the monetary policy rate. 

Do you like this edition?
LEAVE A FEEDBACK
ⓒ 2016-2024 Groww. All rights reserved, Built with in India
MOST POPULAR ON GROWWVERSION - 4.7.6
STOCK MARKET INDICES:  S&P BSE SENSEX |  S&P BSE 100 |  NIFTY 100 |  NIFTY 50 |  NIFTY MIDCAP 100 |  NIFTY BANK |  NIFTY NEXT 50
MUTUAL FUNDS COMPANIES:  GROWWMF |  SBI |  AXIS |  HDFC |  UTI |  NIPPON INDIA |  ICICI PRUDENTIAL |  TATA |  KOTAK MAHINDRA |  DSP |  CANARA ROBECO |  SUNDARAM |  MIRAE ASSET |  BANDHAN |  FRANKLIN TEMPLETON |  PPFAS |  MOTILAL OSWAL |  INVESCO |  EDELWEISS |  ADITYA BIRLA SUN LIFE |  LIC |  HSBC |  NAVI |  QUANTUM |  UNION |  IDBI |  ITI |  MAHINDRA MANULIFE |  360 ONE |  BOI |  TAURUS |  JM FINANCIAL |  PGIM |  SHRIRAM |  BARODA BNP PARIBAS |  QUANT |  WHITEOAK CAPITAL |  TRUST |  SAMCO |  NJ |  BAJAJ