NSC Interest Rate 2023: PPF, KYP, SSY, SCSS, Sukanya 2023 NSC जाने पूरी जानकारी Step By Step


In This Article We Know NSC Interest Rate 2023, Interest Rate of NSC, Revised on April 1, 2023, the interest rates for government savings schemes such as NSC, PPF, KYP, SSY, and SCSS for the fiscal year 2023 have been officially announced by the Ministry of Finance. Effective from April 1, 2023, the interest rates on various small savings schemes have been increased. Notably, PPF and NSC will now offer an 8% interest rate, while senior citizens will enjoy an 8.7% interest rate from April 1, 2023.

To stay informed about the updated interest rates for 2023, including NSC interest rates, Sukanya Samriddhi Yojana interest rates, PPF interest rates, Kisan Vikas Patra interest rates, and Senior Citizen Saving Scheme (SCSS) interest rates, refer to the official announcement by the Government of India. The revised interest rates for various small savings schemes will be applicable from April 1, 2023.

The Ministry of Finance has released the interest rates for a range of post office schemes, including Public Provident Fund (PPF), National Savings Certificate (NSC), Kisan Vikas Patra (KVP), Senior Citizen Savings Scheme (SCSS), and Post Office Monthly Income Scheme (MIS), as well as for the Sukanya Samriddhi scheme. These interest rates are in effect from April 1, 2023, to June 30, 2023. For a comprehensive list of the “Interest Rate of NSC, PPF, KYP, SSY, SCSS for 2023,” please refer to the official announcement by the Government of India.

NSC Interest Rate

Interest Rate of NSC

As of April 1, 2023, a circular from the Finance Ministry has clarified that the interest rates for various small savings schemes remain unchanged, consistent with the rates set in the first quarter of 2023. The Government has adopted a quarterly notification approach for announcing interest rates on small savings schemes. Consequently, the interest rates for the third quarter of the financial year 2022-23, commencing on April 1, 2023, are specified below based on the inherent interest compounding/payment structures embedded in the schemes:


New Interest Rates for PPF, Sukanya Samriddhi, and Other Post Office Deposits: Effective April 1, 2023

  • Government alters interest rates every quarter.
  • Recent notification indicates a 10 basis points reduction in interest rates for National Savings Scheme, Kisan Vikas Patra, and PPF.
  • PPF interest rate decreases from 7.9% to 7.1%.
  • 5-year National Savings Scheme now offers 7.9% interest.
  • Sukanya Samrudhi scheme experiences a reduction from 8.4% to 8.0% interest.
  • Postal savings rates remain unchanged at 4%.
  • Senior Citizen Savings Scheme drops from 8.6% to 8.2% interest.
  • NSC interest rate decreases from 7.9% to 7.7%.
  • Government’s move to reduce interest rates aims to align small savings schemes with banking sector rates.
  • RBI has lowered policy rates three times this year as part of the strategy to reduce interest rates.

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S.No.InstrumentsInterest RatesCompounding
01.Post Office Savings Account4.0Annually
02.1 Year Time Deposit6.8Quarterly
03.2 Year Time Deposit6.9Quarterly
04.3 Year Time Deposit7.0Quarterly
05.5 Year Time Deposit7.5Quarterly
06.5 Year Recurring Deposit Scheme6.2Quarterly
07.Senior Citizen Savings Scheme8.2Quarterly and Paid
08.Monthly Income Account7.4Monthly and Paid
09.National Savings Certificate (VIII Issue)7.7Annually
10.Public Provident Fund Scheme7.1Annually
11.Kisan Vikas Patra7.5Annually
12.Mahila Samman Savings Certificate7.5Quarterly
13.Sukanya Samriddhi Account Scheme8.0Annually
  • Kisan Vikas Patra (KVP) offers an interest rate of 7.50% and matures in 112 months.
  • All the new interest rates mentioned above are effective from April 1, 2023.
  • These interest rates are applicable starting from April 1, 2023.
  • The information source is the Finance Ministry website.

The Post Office small savings scheme presents a secure, risk-free, and appealing investment opportunity for small investors, with its savings products available through its extensive network of 155,000 Post Offices.


As the oldest and most extensive banking system in the country, the Post Office savings bank caters to the investment needs of both urban and rural clients. These services are provided as an agency service for the Ministry of Finance, Government of India. The array of products offered addresses diverse investment requirements for customers.

Time Deposit Account at the Post Office

  • In CBS Post offices, upon maturity of any Term Deposit (TD) account, the same TD account will undergo automatic renewal for the duration it was originally opened, such as a 2 Years TD account renewing for another 2 Years. The interest rate applicable on the day of maturity will be applied.
  • Interest is payable annually but calculated quarterly.

Starting on April 1, 2023, the interest rates are as follows:

1 yr. A/c6.8%
2 yr. A/c6.9%
3 yr. A/c7.0%
5 yr. A/c7.5%

Deposit amounts are outlined below:

Type of AccountMinimum DepositMaximum Deposit
1, 2, 3 & 5 Year TDINR. 200/- and in multiples of INR. 200/- thereafterNo limit

National Savings Certificate (NSC) VIII Issue at the Post Office


  • Specially crafted for Government employees, Businessmen, and other salaried classes who are Income Tax assesses.
  • No maximum limit for investment.
  • No Tax deduction at source.
  • Certificates can serve as collateral security for obtaining loans from banks.
  • Trusts and HUF (Hindu Undivided Families) cannot invest.

Invest in National Savings Certificates (NSCs) monthly for a period of five years, reinvest upon maturity, and enjoy a relaxed retirement with a monthly pension from the maturing NSC.

  • A single-holder certificate can be acquired by an adult for themselves, on behalf of a minor, or to a minor.
  • Deposits are eligible for a tax rebate under Sec. 80C of the Income Tax Act.
  • The interest is accrued annually but is deemed to be reinvested under Section 80C of the Income Tax Act.

For NSC VIII and IX issues, the transfer of certificates from one person to another is permissible only once during the period from the date of issue to the date of maturity.

  • During the transfer of Certificates from one person to another, the old certificates will not be discharged.
  • The name of the old holder will be rounded, and the name of the new holder will be written on the old certificate and the purchase application (in the case of non-CBS Post offices).
  • This process should be done under the dated signatures of the authorized Postmaster, along with their designation stamp and the date stamp of the Post office.

Interest Rates

  • Interest rate: 7.7%.
  • Minimum deposit: Rs. 1000/-, and in multiples of Rs. 100/-.
  • No maximum limit.

Monthly Income Scheme at the Post Office

Minimum opening amount and maximum balance allowed

  • Invest in multiples of INR 1500/-.
  • Maximum investment limit is INR 4.5 lakh in a single account and INR 9 lakh in a joint account.
  • An individual can invest a maximum of INR 4.5 lakh in MIS (including their share in joint accounts).
  • For the calculation of the share of an individual in a joint account, each joint holder has an equal share in each joint account.

Key Features, including Tax Rebate

  • Individuals can open the account.
  • Cash or cheque can be used for account opening, and in the case of a cheque, the date of realization in the Government account is considered the date of opening.
  • Nomination facility is available at the time of opening and also after opening.
  • Account transfer is possible between post offices.
  • Any number of accounts can be opened in any post office, subject to the maximum investment limit by adding balances in all accounts.
  • Accounts can be opened in the name of a minor, and a minor aged 10 years and above can open and operate the account.
  • Joint accounts can be opened by two or three adults.
  • All joint account holders have an equal share in each joint account.
  • Conversion between single and joint accounts is possible.
  • Minors, upon reaching the majority, need to apply for the conversion of the account in their name.
  • The maturity period is 5 years from December 1, 2011.
  • Interest can be drawn through auto credit into a savings account at the same post office, through PDCs, or ECS. For MIS accounts at CBS Post offices, monthly interest can be credited into a savings account at any CBS Post office.
  • Premature encashment is allowed after one year but before three years at a discount of 2% of the deposit, and after three years at a discount of 1% of the deposit (discount means deduction from the deposit).

For MIS accounts opened between December 8, 2007, and November 30, 2011, a 5% bonus on the principal amount is granted upon maturity. However, no bonus is payable for deposits made on or after December 1, 2011.

Account for Senior Citizen Savings Scheme (SCSS) at the Post Office

  • Interest rate: 8.2% per annum.
  • Interest is payable from the date of deposit on March 31, September 30, and December 31 initially, and subsequently on March 31, September 30, and December 31.
  • Only one deposit is allowed in the account, in multiples of INR 1000, with a maximum not exceeding INR 15 lakh.
  • Account can be opened by cash for amounts below INR 1 lakh, and for INR 1 lakh and above, only by cheque.
  • Premature closure is permitted after one year with a deduction of an amount equal to 1.5% of the deposit, and after two years, 1% of the deposit.
  • TDS is deducted at source on interest if the interest amount exceeds INR 10,000 per annum.

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