Interest rate of SCSS after 5 years?

In senior citizen savings scheme, during extension period of 3 years, will the interest rate change or will it remain same?
--Ramesh Satija

On maturity after five years, the Senior Citizen Savings Scheme (SCSS) account can be extended by another three years. The interest rate for the first five years is based on rates prevailing at the time of your investment. However, the rate of interest for the extended term of three years will be based on the prevailing interest rate on the date of maturity of your account. The Indian government revises the rate of interest on SCSS on a quarterly basis.

This article was originally published on July 26, 2016.