The interest rates for the General Provident Fund (GPF) and similar provident fund schemes for the July to September period have been announced. “For general information, it is hereby announced that the deposit balances of subscribers to the General Provident Fund and other similar funds will bear interest at the rate of seven hundred and one percent (7.1 per cent) from 1 July 2024 to 30 September 2024 for the year 2024-2025. This interest rate will be applicable from 1 July 2024,” the finance ministry said.
The GPF interest rate will be 7.1% for the July-September 2024 period. (Reference)
The GPF interest rate will be 7.1% for the July-September quarter of 2024.
The schemes which will be subject to 7.1% interest rate for the July-September period are General Provident Fund (Central Services), Contributory Provident Fund (India), All India Services Provident Fund, National Railways Provident Fund, General Provident Fund (Defence Services) and Department of Ordnance Provident Fund.
The central government has kept interest rates on small savings schemes unchanged for the July-September quarter of 2024. The Senior Citizens Savings Scheme (SCSS) will offer an interest rate of 8.2 per cent for the same period, while the National Savings Certificate (NSC) interest rate will be 7.7 per cent for the July-September quarter and the Monthly Income Account Scheme (MIS) interest rate will be 7.4 per cent for the July-September quarter. Interest rates on five-year fixed deposits will be 7.5 per cent for the September quarter.