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Union Finance Ministry retained interest rate for GPF at 8.7 percent for 2015-16

The 8.7 per cent interest will apply on Provident Funds of central government employees, railways and defence forces.

Apr 22, 2015 14:35 IST
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Union Finance Ministry retained the rate of interest for General Provident Fund (GPF) and other related schemes at 8.7 per cent for 2015-16. The notification was issued by the Finance Ministry on 21 April 2015.

The 8.7 per cent interest will apply on Provident Funds of central government employees, railways and defence forces. The rate of interest will be effective from 1 April 2015.

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 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

• The interest rate for Sukanya Samriddhi Account, the special deposit scheme for girl child has been hiked from 9.1 per cent to 9.2 per cent.

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

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