The Finance Ministry has recently announced the interest rates for General Provident Fund (GPF) and similar funds for the period of July 1, 2024 to September 30, 2024.
Unchanged Rates for July-September 2024
The government has decided to maintain the interest rate at 7.1 percent for GPF and other linked funds, as confirmed by the Department of Economic Affairs (DEA) of the Ministry of Finance.
According to the Department of Economic Affairs (DEA) of the Ministry of Finance, this decision ensures continuity in interest rates for depositors.
Interest Rate Maintained at 7.1%
As of July 3, 2024, the Department of Economic Affairs (DEA) of the Ministry of Finance has confirmed that GPF and similar funds will earn interest at a rate of 7.1% during this quarter.
This rate remains unchanged from the previous quarter, ensuring consistency for GPF account holders.
Understanding General Provident Fund (GPF)
What is GPF?
General Provident Fund (GPF) is a provident fund available exclusively to Indian government employees.
Employees can contribute a portion of their salary to GPF, which accumulates with interest. Upon retirement, employees receive their accumulated funds along with interest earned.
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The Finance Ministry reviews the GPF interest rates every quarter to ensure transparency and consistency for government employees.
