Government has increased interest rate on various small savings schemes for the fourth quarter of the current Financial Year starting from 1st January, 2023. The interest rate of five year National Saving Certificate has been increased to 7 per cent from 6.8 per cent. Finance Ministry said, the interest rate on senior citizen saving scheme increased to 8 per cent from 7.6 per cent. The Monthly Income Account Saving has also been increased to 7.1 per cent from 6.7 per cent. The interest rate on Kisan Vikas Patra will now be 7.2 percent and will mature in 120 months. The interest rate of small savings deposit of one year time period has been increased to 6.6 per cent from 5.5 per cent.
However, the interest rate on Public Provident Fund, Sukanya Samriddhi Account and Saving Deposit have been kept unchanged.
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