Govt leaves General Provident Fund interest rate unchanged at 7.1% for Jul-Sept
Premium- The interest rate declared on provident funds is same as rates offered under the public provident fund (PPF), which is also at 7.1%
The Government of India has declared a 7.1% interest rate of General Provident Fund (GPF) and other similar retirement schemes for the July to September quarter of the financial year 2021-2022.
The interest rate declared on these provident funds is same as rates offered under the public provident fund (PPF), which is also at 7.1%.
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Earlier, the government had declared the same interest rate for April to June 2021 quarter
It will be the sixth consecutive quarter when the GPF interest rate will be 7.1%. In April 2020, the central government had slashed GPF interest rate from 7.9% to 7.1%.
The interest rate will be applicable on the following provident fund schemes:
1. The General Provident Fund (Central Services)
2. The Contributory Provident Fund
3. The All India Services Provident Fund
4. The State Railway Provident Fund
5. The General Provident Fund (Defence Services)
6. The Indian Ordnance Department Provident Fund
7. The India Ordnance Factories Workmen’s Provident Fund
8. The Indian Naval Dockyard Workmen’s Provident Fund
9. The Defence Services Officers Provident Fund
10. The Armed Forces Personnel Provident Fund
(Do you have personal finance queries? Send them to mintmoney@livemint.com and get them answered by industry experts)
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