Quick Summary
The Ministry of Finance has recently announced revisions to the interest rates on various Small Savings Schemes for the fourth quarter of the financial year 2023-24. These changes, set to take effect from January 1, 2024, and extend through March 31, 2024, bear implications for a diverse range of financial instruments that cater to the small investor. Official copy of the notification has been mentioned below F.No.1/4/2019-NS Government of India Ministry of Finance Department of E
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FAQ :
The revised interest rates take effect from January 1, 2024, and will be applicable until March 31, 2024.
The 3 Year Time Deposit and the Sukanya Samriddhi Account Scheme have seen an increase in their interest rates for the fourth quarter.
No, the interest rates for most small savings schemes remain unchanged from the previous quarter.
The interest rate for the 3 Year Time Deposit has been revised to 7.1% for the period January 1, 2024, to March 31, 2024.
The interest rate for the Sukanya Samriddhi Account Scheme has been revised to 8.2% for the period January 1, 2024, to March 31, 2024.
The interest rate for the Public Provident Fund Scheme remains unchanged at 7.1% for the fourth quarter of the financial year 2023-24.
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