Interest on recurring deposits for five years increased to 6.7%

New Delhi, September 29: The government has maintained the interest rates on all significant small savings programmes for the months of October through December, with the exception of the five-year recurring deposit, which has increased from 6.5 to 6.7 percent.

The Finance Ministry published the new rates for the period from October 1 to December 31, 2023, on Friday. The Finance Ministry updates interest rates for modest saving plans every three months.

The rates of all other important programmes, including PPF (7.1%), Sukanya Samriddhi (8%), Kisan Vikas Patra (7.5%), Monthly Income Account (7.4%), National Savings Certificate (7.7%), Senior Citizens Savings Scheme (8.2%), and Savings Deposits (4%) remained constant.