The Ministry of Finance said that the General Provident Fund’s (GPF) interest rate will stay at a nice 7.1% for the last quarter of 2022-23. The Department of Economic Affairs (DEA) just made this news official in a resolution that will be in effect from January 1 to March 31, 2023. It has been proven 7.1%.
The General Provident Fund (GPF) is an Indian retirement savings plan for people who work for the Central Government. It is an option for a long-term investment with good interest rates and tax benefits. The Ministry of Finance is in charge of the GPF, and all Central Government employees can use it. This includes people in the Indian Administrative Service, the Indian Police Service, and the Indian Forest Service. The GPF lets workers save a portion of their monthly pay and earn interest on it. The Ministry of Finance changes the rate of return on GPF deposits every year.
The Ministry of Finance changes the rate of return on GPF deposits every year. The interest rate on GPF deposits is 7.1% per year at the moment. From October 1, 2022, to December 31, 2022, this rate applies to all GPF deposits. The GPF interest rate is calculated every three months and added to the account at the end of each quarter. The interest rate for GPF deposits is higher than the interest rate for most other savings plans in India.
| Month | Interest Rate |
| 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 % |
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