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Government Retains Interest Rate of Provident Fund At 7.8%
The rates have kept unchanged and will fetch return of 7.8% on GPF accounts.
For the quarter October- December, the government of India has retained the rate of interest on provident fund account at 7.8%. The rate of interest on PPF also provides similar return. Further all related schemes shall offer the same return.
The Government of India has announced that during the Financial Year 2017-18, accumulations at the credit of subscribers to the General Provident Fund (GPF) and other similar funds shall carry interest at the rate of 7.8 per cent with effect from October 1 to December 31, 2017.
The rates remain applicable for all subscribers under the scheme whether in the central government, railways or defence.
The rates have been kept intact with the rates on small saving schemes which the government maintained while announcing rates for the ongoing quarter.
With Inputs From PTI
