The Government of India offers various small savings schemes through Post Offices and banks to suit the needs of diverse groups of people. These Schemes are; Senior Citizen Savings Scheme(SCSS) for Senior Ctizen, Sukanya Samriddhi Yojana(SSY) for Girl Child, Public Provident Fund(PPF), Kisan Vikas Patra(KVP) , National Savings Certificates(NSC), Time Deposits, Recurring Deposits etc. There Rate of Interests are revised quarterly. Now the Government of India has revised and declared the rate of interests for first quarter of 2024-25 i.e. for the period from 1st April 2024 to 30th June 2024 for Small Saving Schemes.
Revised Interest Rates for Small Saving Schemes w.e.f. 01.04.2024 upto 30.06.2024
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.
Also Read : Finance Ministry Orders 2024
2. This has the approval of competent authority.
(Kapil Patidar)
Deputy Secretary (Budget)
Interest Rates for Small Saving Schemes w.e.f. 01.04.2024 Frequently Asked Questions(FAQs)
| What are the interest rates offered under Small Savings Schemes? |
| The interest rates offered under the Small Savings Schemes are between 4% to 8.2% for the Period 01.04.2024 to 30.06.2024. |
| Which Scheme under Small Savings Schemes offers the highest interest rate? |
| The highest interest offered under Small Savings Schemes is Senior Citizen Savings Scheme(SCSS) and Sukanya Samriddhi Yojana(SSY) . It Currently offers 8.2% interest. |
| What is the Current interest rate on Public Provident Fund(PPF)? |
| The interest rates offered under the Public Provident Fund(PPF) Scheme is 7.1% |
| What is the Current interest rate on Post Office National Savings Certificate(NSC)? |
| The interest rates offered under the Post Office National Savings Certificate(NSC) Scheme is 7.7% |
| What is the Current interest rate on Post Office Kisan Vikas Patra(KVP)? |
| The interest rates offered under the Post Office Kisan Vikas Patra(KVP) Scheme is 7.5% |
| What is the Current interest rate on Post Office Monthly Income Scheme(MIS)? |
| The interest rates offered under the Post Office Monthly Income Scheme(MIS) Scheme is 7.4% |
