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

The authorities has kept curiosity rates of all key small financial savings schemes unchanged for the October-December interval, besides 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 curiosity rates for small saving schemes after each quarter, introduced the brand new rates on Friday for the interval 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), month-to-month revenue account scheme (7.4 per cent), nationwide saving certificates (7.7 per cent) and senior citizen financial savings scheme (8.2 per cent) in addition to saving deposits (4 per cent), have been kept unchanged.

(With inputs from IANS)