The government has made a few changes to the small scheme savings interes rates for the quarter of January-March 2023.
Here are the changes made –
- PPF interest rates – No Change (remains at 7.1%)
- Sukanya Samriddhi rates – No change (remains at 7.6%)
- Senior Citizen Savings Scheme or SCSS – Increased by 0.4% (now at 8.0%)
- National Savings Certificate or NSC – Increased by 0.2% (now at 7.0%)
- Monthly Income Scheme or MIS – Increased by 0.4% (not at 7.1%)
Note – Since the interest rates of RBI FLoating Rate Savings Bonds 2020 (Taxable) are pegged to NSC interest rates, the above hike in NSC rates by 0.20% will also lead to an increase in RBI FLoating Rate bonds by similar amount. The RBI Floating Bond rates are always 0.35% above NSC rates. So with NSC rates now at 7.0%, the RBI Floating Rate bond rates will increase to 7.35% per annum now. Read more about RBI Floating Rate Bonds interest rates 2023.