STOCK MARKET BSE NSE

Government Retains Interest Rate for GPF at 8.7% for Current Fiscal

Published: 21st April 2015 02:45 PM  |   Last Updated: 21st April 2015 02:45 PM   |  A+A-

By PTI

NEW DELHI: The government has retained the rate of interest for General Provident Fund (GPF) and other related schemes at 8.7 per cent for the current fiscal.

The 8.7 per cent interest will apply on Provident Funds of central government employees, railways and defence forces, according to the notification issued by the Finance Ministry.

The rate of interest will be effective from April 1, 2015, it added.

The interest rate for GPF is in line with the interest rate fixed for Public Provident Fund (PPF) at 8.7 per cent for 2015-16.

The government had, however, raised the interest rates for other small saving schemes.

The interest rate for senior citizens savings scheme was hiked from 9.2 per cent to 9.3 per cent and for Sukanya Samriddhi Account, the special deposit scheme for girl child, the interest rate has been hiked from 9.1 per cent to 9.2 per cent, respectively.

The interest earning for Kisan Vikas Patra has been retained at 8.7 per cent.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp