Govt retains GPF interest rate at 7.8% for October-December
General Provident Fund (GPF) and other similar funds will carry interest at the rate of 7.8% with effect from 1 October to 31 December, 2017
New Delhi: The government has retained the rate of interest for General Provident Fund (GPF) and other related schemes at 7.8% for the October-December quarter.
The rate is in line with that for Public Provident Fund (PPF). In July-September quarter too, the interest rate was 7.8%. “The Government of India has announced that during the Financial Year 2017-18, accumulations at the credit of subscribers to the General Provident Fund (GPF) and other similar funds shall carry interest at the rate of 7.8 per cent with effect from October 1 to December 31, 2017. This would apply on Provident Funds of central government employees, railways and defence forces,” a government statement said.
Last month, the government had kept the interest rate on PPF unchanged at 7.8% for October-December, in line with the rates for small savings schemes.
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