Know the Revised Small Savings Schemes Interest Rates 2023 – The interest rates of the small saving schemes like the Senior Citizen Savings Scheme (SCSS), Monthly Income Savings, National Savings Certificate (NSC), Kisan Vikas Patra (KVP), and all post office time deposits have been hiked. except Public Provident Fund (PPF).
Also Read – You Can’t Open Two PPF Accounts in Different Banks
What are Small Savings Schemes ?
Key Highlights :
The Interest Rates on small savings are linked to market yields on G-secs. These rates are fixed on a quarterly basis at a spread ranging from 0-100 basis points over and above G-Sec yields of comparable maturities. The 1% is equivalent to 100 basis points.
Revised Savings Schemes Interest Rates for Jan to March 2023
| Investments | Rate of Interest (Oct to Dec 2022) | Revised Rate of Interest (Jan to March 2023) |
| Savings Deposit | 4.0% | 4.0% |
|
Post Office Time Deposits : 1 Years Time Deposits 2 Years Time Deposits 3 Years Time Deposits 5 Years Time Deposits |
5.5% 5.7% 5.8% 6.7% |
6.6% 6.8% 6.9% 7.0% |
| 5 Years Recurring Deposits | 5.8% | 5.8% |
| Senior Citizen Saving Schemes (SCSS) | 7.6% | 8.0% |
| Monthly Income Account Scheme | 6.7% | 7.1% |
| National Saving Certificate (NSC) | 6.8% | 7.0% |
| Public Provident Fund (PPF) | 7.10% | 7.10% |
| Kisan Vikas Patra (KVP) | 7.0% (Maturity 123 months) | 7.20% (maturing 120 Months) |
| Sukanya Samriddhi Yojana | 7.60% | 7.60% |