The central government has announced interest rates for the General Provident Fund and other such funds for the October-December 2021 quarter. GPF and other such fund subscribers, who are employees of the central government, will continue to get a return of 7.1 per cent in the third quarter. This is because the central government has not made any change in the GPF interest rate for the third quarter of the financial year 2021-22. Therefore, the rate will remain at 7.1 per cent. The government did not make any changes to the GPF in the last quarter.
The Budget Division of the Department of Economic Affairs in the Ministry of Finance today issued a notification in this regard. During the year 2021-22, the interest rate on consumer deposits of General Provident Fund (GPF) and other similar funds will be 7.1 per cent. It is also said that this rate will be applicable from October 1, 2021.
The central government has not changed the interest rates of Public Provident Fund (PPF), NSC (National Savings Certificate), Sukanya Samrudhi Yojana (SSY) and other small savings schemes for October-December 2021. The PPF interest rate for the current quarter is 7.1 per cent. All government employees can contribute a certain portion of their salary to the General Provident Fund. Any government employee invests in this fund during the job and can withdraw this money at the time of retirement.
GPF will continue paying the interest rate of 7.1 per cent per annum from October to December 2021, according to a circular issued on the Department of Economic Affairs (DEA) website.
New interest rate will be applicable on these funds -
- General Provident Fund (Central Services)- Contributory Provident Fund (India)- The All India Services Provident Fund- The State Railway Provident Fund- The General Provident Fund (Defense Services)- The Indian Ordinance Department Provident Fund- The Indian Ordinance Factories Workmen's Provident Fund- The Indian Naval Dockyard Workmen's Provident Fund- The Armed Forces Personal Provident Fund- The Defense Services Officers Provident Fund