Highlights

The interest rate for 5 year time deposits have been hiked from 7% to 7.5%

The highest interest rate hike is for National savings certificate, by 0.7% to 7.7%

Interest rates for PPF remains unchanged at 7.1%

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Interest rates for small savings schemes hiked for April - June 2023 quarter

Interest rates for majority of the small savings schemes have been increased by up to 70 basis points (0.7%). This is for the April to June 2023 quarter. 

Interest rates for small savings schemes hiked for April - June 2023 quarter

In what comes as some good news for investors, the government has hiked the interest rate for several of the small savings schemes for the April to June 2023 quarter.

The interest rate for 5 year time deposits have been hiked from 7% to 7.5%. Interest rate for senior citizens savings scheme has been hiked from 8% to 8.2%.

The highest interest rate hike is for National savings certificate, by 0.7% to 7.7%. Interest rate on Sukanya Samridhhi has been hiked to 8% from 7.6%.

However, interest rates for PPF remains unchanged at 7.1%

Interest rates on small savings schemes are reviewed every quarter.

Frequently Asked Questions

The interest rates have been hiked for the April to June 2023 quarter.

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