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Govt retains interest rate for GPF, other funds at 8.7%

The interest rate will apply on provident funds of Central government employees, railways and defence forces.

By: ENS Economic Bureau | New Delhi |
April 22, 2015 2:25:30 am

The finance ministry has retained the interest rate of 8.7 per cent on deposits to the general provident fund (GPF) and other related schemes for 2015-16.

“The government has decided to fix interest rates at 8.7 per cent for GPF and other similar funds including the Special Deposit Scheme, 1975, non-government provident, superannuation and gratuity funds for 2015-16,” said an official release on Tuesday.

The interest rate will apply on provident funds of Central government employees, railways and defence forces, as well as the Indian Ordnance Provident Fund, the Indian Ordnance Factories Workmen’s Provident Fund, the Indian Naval Dockyard Workmen’s Provident Fund and the Armed Forces Personnel Provident Fund, said the release, adding that it is effective from April 1, 2015.

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