SB Order 15/2023 – Revision of interest rates for Small Savings Schemes w.e.f. 01.07.2023
| Letter Number | F. No 113-03/2017-SB(Pt.1) |
| Letter Dated | 30.06.2023 |
| Issued by | Department of Posts (Financial Services Division) |
| Subject | SB Order 15/2023 – Post Office Interest rate July 2023 |
| Signed By | (Devender Sharma) Assistant Director (SB-II) |
| Download PDF | Click Here |
SB Order 15/2023
Ministry of Finance, Department of Economic Affairs (Budget Division), Government of India vide Memorandum No. 01/4/2019-NS dated 30.06.2023 (copy enclosed) has informed that the rate of interest on various Small Savings Schemes (National Savings Schemes) for the second quarter of financial year 2023-24 starting from 1st July, 2023 and ending on 30th September, 2023 have been revised as under: –
| Sl. No. | Instrument | Rates of interest from 01.04.2023 to 30.06.2023 | Rates of interest from 01.07.2023 to 30.09.2023 |
| 1 | Saving Deposit | 4.0 | 4.0 |
| 2 | 1 Year Time Deposit | 6.8 | 6.9 |
| 3 | 2 Year Time Deposit | 6.9 | 7.0 |
| 4 | 3 Year Time Deposit | 7.0 | 7.0 |
| 5 | 5 Year Time Deposit | 7.5 | 7.5 |
| 6 | 5 Year Recurring Deposit | 6.2 | 6.5 |
| 7 | Senior Citizen Savings Scheme | 8.2 | 8.2 |
| 8 | Monthly income Account Scheme | 7.4 | 7.4 |
| 9 | National Savings Certificate | 7.7 | 7.7 |
| 10 | Public Provident Fund Scheme | 7.1 | 7.1 |
| 11 | Kisan Vikas Patra | 7.5 (will mature in 115 months) | 7.5 (will mature in 115 months) |
| 12 | Sukanya Samriddhi Account Scheme | 8.0 | 8.0 |
2. It is requested to circulate it to all concerned for information, guidance and necessary action. 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 issues with the approval of the Competent Authority.