The Ministry of Finance has declared that the GPF (General Provident Fund) interest rate for the final quarter of 2022-23 will stay at a nice 7.1%. This announcement was made by the Department of Economic Affairs (DEA) in an official resolution valid from 1 January to the end of March 2023. 7.1% has been confirmed.
The General Provident Fund (GPF) in India is a retirement savings plan for government employees. It is a long-term investment opportunity with favorable interest rates and tax advantages. The GPF is administered by the Ministry of Finance and is accessible to all employees of the Central Government, including those in the Indian Administrative Service, Indian Police Service, and Indian Forest Service. The GPF enables employees to save a portion of their monthly wages and earn interest on those funds. The Ministry of Finance revises every year the interest rate on GPF deposits.
The Ministry of Finance revises every year the interest rate on GPF deposits. The current annual interest rate for GPF deposits is 7.1%. This rate applies to all GPF deposits made between 1 October 2022 and 31 December 2022. The GPF deposit interest rate is computed quarterly and credited to the account at the conclusion of each quarter. The GPF deposit rate is greater than the rates offered by the majority of other savings programs in India.
|January 2023 to March 2023||7.1%|
|October 2022 to December 2022||7.1%|
|July 2022 to September 2022||7.1%|
|April 2022 to June 2022||7.1%|
|January 2022 to March 2022||7.1%|
|October 2021 to December 2021||7.1%|
|July 2021 to September 2021||7.1%|
|April 2021 to June 2021||7.1%|
|January 2021 to March 2021||7.1%|
|October 2020 to December 2020||7.1%|
|July 2020 to September 2020||7.1%|
|April 2020 to June 2020||7.1%|
|January 2020 to March 2020||7.9%|
|October 2019 to December 2019||7.9%|
|July 2019 to September 2019||7.9%|
|April 2019 to June 2019||8.0%|
|January 2019 to March 2019||8.0%|
|October 2018 to December 2018||8.0%|
|July 2018 to September 2018||7.6 %|
|April 2018 to June 2018||7.6 %|
|January 2018 to March 2018||7.6 %|