PROVIDENT FUND INTEREST RATE 2015-16 FIXED AT 8.7%

MINISTRY OF FINANCE

            Government Decides to Fix Interest Rates at 8.7% for General Provident Fund(GPF) and other Similar Funds Including Special Deposit Scheme, 1975(SDS,1975) for Non-Government Provident, Superannuation and Gratuity Funds for the Financial Year 2015-16.

            It was decided by the Government to link the interest rates of State PFs (General Provident Fund and other similar funds) including Special Deposit Scheme, 1975 (SDS, 1975) for Non-Government Provident, Superannuation and Gratuity Funds for the FY 2015-16 to Public Provident Fund (PPF) rates. In pursuance of that decision, the Government has decided to fix the rates 8.7% per annum applicable to the following:-

·         The General Provident Fund (Central Services).

·         The Contributory Provident Fund (India).

·         The All India Service Provident Fund.

·         The State Railway Provident Fund.

·         The General Provident Fund (Defence Services).

·         The Indian Ordnance Provident Fund.

·         The Indian Ordnance Factories Workmen’s Provident Fund.

·         The Indian Naval Dockyard Workmen’s Provident Fund.

·         The Defence Services Officers Provident Fund.

·         The Armed Forces Personnel Provident Fund.

           

         The rate of interest is applicable to the above funds w.e.f. 1^st April, 2015 and until further orders.

Recently, the Government had kept the interest rates for PPF and other Small Savings Schemes intact.  However, interest rates for 5 year Senior citizen Saving Scheme and Sukanya Samriddhi Account Scheme have been increased from 9.2 to 9.3% and 9.1 to 9.2% respectively, keeping in view the commitment of the Government towards the welfare of the girl child and the senior citizens.    DSM/KA : 21.04.2014