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Post Office Monthly Income Scheme, Recurring Deposit Interest Rates Hiked For April-June

Here is a look at the interest rates on various small savings schemes for the first quarter of FY 2023-24.

Tripsha Ghosh

India Post Office Recruitment 2023 registration details are mentioned here.

At the beginning of the financial year, the government of India has increased the rates for Post Office Monthly Income Scheme and Post Office Recurring Deposit schemes for the April-June quarter.

The revised rate for the Post Office Monthly Scheme account stands at 7.7%, and the Post Office Recurring Deposit is 6.2%, according to the new notification from the Department Of Economic Affairs, Ministry of Finance.

Senior Citizens Savings Scheme, Sukanya Samriddhi Yojna, Kisan Vikas Patra, and Post Office Fixed Deposits have also seen a hike in their interest rates following this change. There has, however, been no change in Public Provident Fund or PPF interest rate.

Here's a look at the revised interest rates of Post Office Savings Schemes

Savings Scheme Rate Of Interest
Savings Account (SB) 4%
Recurring Deposit (RD) 6.20%
Monthly Income Scheme (MIS) 7.40%
Time Deposits (TD) 1 Year - 6.8% 2 Years - 6.9% 3 Years - 7.0% 5 Years - 7.5%
Sukanya Samriddhi Account (SSA) 8.00%
Public Provident Fund (PPF) 7.10%
Senior Citizens Savings Scheme (SCSS) 8.20%
National Savings Certificate (NSC) 7.70%
Kisan Vikas Patra (KVP) 115 months 7.50%

Also Read: How To Open A Post Office Savings Account?

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WRITTEN BY
Tripsha Ghosh
Tripsha Ghosh is an English Literature graduate and a professional Content ... more
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