Interest Rates on various Small Saving Schemes Revised, list Released

The government on Friday raised interest rates on most post office saving schemes by up to 0.7 per cent for the April-June 2023 quarter in line with the firming of interest rates in the economy.

The interest rates of schemes like the Senior Citizen Savings Scheme (SCSS), Monthly Income Savings Scheme, National Savings Certificate(NSC), Kisan Vikas Patra, all post office time deposits and Sukanya Samriddhi Account Scheme have been hiked.

National Savings Certificate will fetch 7.7% from the existing 7.0%, while Monthly Income Account Scheme will return 7.4% instead of 7.1%. Five-year Time Deposit will fetch 7.5% instead of the existing 7.0%.