Interest rate for 5-year recurring deposit hiked to 6.7 %, rates for other key schemes kept unchanged

The government has kept interest rates of all key small savings schemes unchanged for the October-December period, except for the five-year recurring deposit, which has been hiked from 6.5 per cent to 6.7 per cent.

The Finance Ministry, which revises interest rates for small saving schemes after every quarter, announced the new rates on Friday for the period between October 1 and December 31, 2023.

The rates of all other key schemes like PPF (7.1 per cent), Sukanya Samriddhi scheme (8 per cent), Kisan Vikas Patra (7.5 per cent), monthly income account scheme (7.4 per cent), national saving certificate (7.7 per cent) and senior citizen savings scheme (8.2 per cent) as well as saving deposits (4 per cent), have been kept unchanged.