General Provident Fund (GPF) interest rates as well as those for similar provident fund schemes for July-September have been announced. The Finance Ministry said, “It is announced for general information that during the year 2024-2025, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.1% (Seven points one percent) w.e.f. 1st July, 2024 to 30th September, 2024. This rate will be in force w.e.f. 1st July, 2024.”
The schemes that will fetch interest rates of 7.1% for the July-September quarter are: General Provident Fund (Central Services), Contributory Provident Fund (India), All India Services Provident Fund, The State Railway Provident Fund, The General Provident Fund (Defence Services) and The Indian Ordnance Department Provident Fund.
The Centre kept the interest rates of small savings schemes unchanged for the July-September quarter of 2024. The Senior Citizen Savings Scheme (SCSS) will offer an interest rate of 8.2% for the same period while interest rate of the National Savings Certificate (NSC) will be at 7.7% for the July-September quarter and for Monthly Income Account Scheme (MIS) will be 7.4% for the July-September quarter. The 5-year recurring deposit will have an interest rate of 7.5% for the September quarter.
