Rate Unchanged
Government leaves Oct-Dec General Provident Fund interest rate unchanged at 7.1%
This story was originally published at 16:50 IST on 3 October 2024
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--Govt keeps Oct-Dec General Provident Fund rate unchanged at 7.1%
NEW DELHI – The government has kept the interest rate on the General Provident Fund unchanged at 7.1% for Oct-Dec, the finance ministry said in a notification Thursday. The government had left the interest rate on the General Provident Fund unchanged at 7.1% for Jul-Sept as well.
The General Provident Fund is a social security scheme available to central government employees. The interest rate of 7.1% is also applicable to other government-run provident funds such as the All India Services Provident Fund and the Armed Forces Personnel Provident Fund.
Since 2016, the government has been revising interest rates on its small savings schemes every quarter to align them with market rates on relevant government securities. However, the rate on the General Provident Fund has remained 7.1% for over three years now. End
Reported by Shubham Rana
Edited by Avishek Dutta
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