Government hikes interest rates of Small Saving Schemes for Q4 of FY23
- The Central Government has increased interest rates on various small savings schemes for the fourth quarter of the current Financial Year 2022-2023.
- However, the interest rate on the Public Provident Fund scheme, Sukanya Samriddhi Account Scheme, and Saving Deposit have been kept unchanged.
- Accordingly, the Rates of Interest on various Small Savings Schemes for the Fourth Quarter of the Current Financial Year 2022-23, starting January 01, 2023 and ending on March 31, 2023 is as given below:
| Instrument | Interest Rate (01/10/2022 to 31/12/2022) | Interest Rate (01/01/2023 to 31/03/2023) | Compounding frequency* |
| Savings Deposit | 4.0 | 4.0 | Annually |
| 1 Year Time Deposit | 5.5 | 6.6 | Quarterly |
| 2 Year Time Deposit | 5.7 | 6.8 | Quarterly |
| 3 Year Time Deposit | 5.8 | 6.9 | Quarterly |
| 5 Year Time Deposit | 6.7 | 7.0 | Quarterly |
| 5 Year Recurring Deposit | 5.8 | 5.8 | Quarterly |
| 5 Year Senior Citizen Savings Scheme | 7.6 | 8.0 | Quarterly and paid |
| 5 Year Monthly Income Account | 6.7 | 7.1 | Monthly and paid |
| 5 Year National Savings Certificate | 6.8 | 7.0 | Annually |
| Public Provident Fund Scheme | 7.1 | 7.1 | Annually |
| Kisan Vikas Patra | 7.0 | 7.2 (will mature in 120 months) | Annually |
| Sukanya Samriddhi Account Scheme | 7.6 | 7.6 | Annually |
Points to remember:
- Interest Rate of various small saving schemes