Govt retains GPF interest rate at 7.8% for Oct-Dec

The government has retained the rate of interest for General Provident Fund (GPF) and other related schemes at 7.8 per cent for the October-December quarter.

The rate is in line with that for Public Provident Fund.

In July-September quarter too, the interest rate was 7.8 per cent.

"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.

This would apply on Provident Funds of central government employees, railways and defence forces.

Last month, the government had kept the interest rate on the Public Provident Fund unchanged at 7.8 per cent for October-December, in line with the rates for small savings schemes.

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