Post Office Fixed/Time Deposit Interest Rate April-June 2023: The Finance Ministry has revised Post Office Time Deposit interest rates for various tenors. The interest rates have been hiked up to 0.5%. The revised rates will be applicable in the first quarter of FY 2023-24 starting tomorrow (April 1).
In the fourth quarter of FY 2022-23 also, the Government increased the Post Office Fixed Deposit interest rates for some tenors.
Post Office Time Deposit Interest Rates April-June 2023
| Period | Rate |
|---|---|
| 1yr.A/c | 6.8% |
| 2yr.A/c | 6.9% |
| 3yr.A/c | 7% |
| 5yr.A/c | 7.7 % |
Along with Post Office Fixed Deposit interest rates, the Government has also revised the interest rates of some other small savings schemes like the Senior Citizens Savings Scheme (SCSS), Sukanya Samriddhi Yojana, Kisan Vikas Patra, Post Office Monthly Income Scheme and Post Office Recurring Deposit. There is no change in Public Provident Fund (PPF) interest rate.
Also Read: Why you should still invest in Public Provident Fund (PPF)
The Government revises interest rates for various small savings schemes on a quarterly basis. The next revision of the interest rates will happen by June 30, 2023.