New Delhi: GPF interest rate 2024: The Ministry of Finance has announced the interest rate on General Provident Fund (GPF) from January 1, 2023 to March 31, 2024 will be kept unchanged at 7.1 percent.
Interest rates on GPF are revised periodically according to the government’s issued notifications. The interest rate of 7.1 percent for the aforementioned period will apply to the following funds:
1. The General Provident Fund (Central Services);
2. The Contributory Provident Fund (India)
3. The All-India Services Provident Fund
4. The State Railway Provident Fund
5. The General Provident Fund (Defence Services)
6. The Indian Ordnance Department Provident Fund
7. The Indian Ordnance Factories Workmen’s Provident Fund
8. The Indian Naval Dockyard Workmen’s Provident Fund
9. The Defense services Officers Provident Fund
10. The Armed Forces Personnel Provident Fund
On 29 December 2023, the government hiked the interest rates on Sukanya Samriddhi scheme by 20 basis points and three-year term deposit scheme by 10 basis points for the January-March quarter though it retained the rates for all other small savings schemes.
A finance ministry circular added that the deposit under Sukanya Samriddhi scheme would attract an interest rate of 8.2 per cent from the existing 8 per cent, while the 3-year term deposit would become 7.1 per cent from the current 7 per cent.