Small Savings Schemes Interest Rates from Apr 2024 to June 2024
F.No.1/4/2019-NS
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
North Block, New Delhi
Dated: 08.03.2024
OFFICE MEMORANDUM
Subject: Revision of interest rates for Small Savings Schemes – reg.
The rates of interest on various Small Savings Schemes for the first quarter of FY 2024-25 starting from 1st April, 2024 and ending on 30th June, 2024 shall remain unchanged from those notified for the fourth quarter (1st January, 2024 to 31st March, 2024) of FY 2023-24.
2. This has the approval of the competent authority.
(Kapil Patidar)
Deputy Secretary (Budget)
To,
1. The Finance Secretary & Secretary Expenditure, Department of Expenditure North Block, New Delhi.
2. The Secretary, Department of Economic Affairs North Block, New Delhi.
3. The Secretary, Department of Revenue North Block, New Delhi.
4. The Secretary, Department of Financial Services Jeevan Deep Building, New Delhi.
5. The Secretary, Department of Posts Dak Bhawan, New Delhi.
6. The Chief General Manager (DGBA) Reserve Bank of India, Central Office, Mumbai.
7. Reserve Bank of India Central Account Section, Additional Office Building, East High Court Road, Civil Lines, P.B. No.15, Nagpur – 440 001.
8. Chief Secretaries of States / UT Government
9. The Joint Director National Savings Institute, New Delhi.
| Instrument | Rates of interest |
|---|---|
| Savings Deposit | 4 |
| 1 Year Time Deposit | 6.9 |
| 2 Year Time Deposit | 7 |
| 3 Year Time Deposit | 7.1 |
| 4 Year Time Deposit | 7.5 |
| 5 Year Recurring Deposit | 6.7 |
| Senior Citizen Savings Scheme | 8.2 |
| Monthly Income Account Scheme | 7.4 |
| National Savings Certificate | 7.7 |
| Public Provident Fund Scheme | 7.1 |
| Kisan Vikas Patra | 7.5 (will mature in 115 months) |
| Sukanya Samriddhi Account Scheme | 8.2 |