The Finance Ministry has announced interest rates for General Provident Fund and Provident Fund for the October-December quarter. This is big news for government employees as these rates are going to affect their savings.
The Finance Ministry has announced interest rates for General Provident Fund and other Provident Funds. The Finance Ministry has not made any change in the interest rates and the same has been retained.
Releasing information in this regard, the Department of Economic Affairs of the Ministry of Finance has said that the interest rates for the October to December quarter of the financial year 2022-23 have been retained at 7.1 percent. The interest rates of other provident funds will also remain unchanged at 7.1 per cent. That is, the Finance Ministry has not made any change in the interest rates.
Apart from Provident Fund,
the Department of Economic Affairs, Ministry of Finance announces interest rates for GPF and related funds every quarter. Interest rates are also announced for CPF, AISPF, SRPF, AFPPF in these funds. GPF i.e. General Provident Fund and this is also a scheme like PPF but it is applicable only to government employees. That’s why it is named GPF. There has been no change in its interest rates for this quarter.
Know These Funds Also
CPF is also known as Contributory Provident Fund. Apart from All India Service Provident Fund or AISPF, there has been no change in interest rates on Railway Provident Fund and General Provident Fund Defense Services, Indian Ordnance Department Provident Fund. Here also the interest rate of 7.1 percent will continue to be available as before. Earlier, interest was given at the same rate for the July-September quarter of the financial year 2022-23 as well. Government employees were expecting a change or hike in interest rates during the festive season but the Finance Ministry has not made any changes.