On 21st Apr-15, Govt. linked the the interest rates of State PFs (GeneralProvident Fund and other similar funds) including Special Deposit Scheme, 1975 (SDS, 1975)for Non-Government Provident, Superannuation and Gratuity Funds for the FY 2015-16 toPublic Provident Fund (PPF) rates. Therefore, for FY 2015-16, interest rate of 8.70% will be applicable on above mentioned scheme as applicable to PPF.
Following is the text of Press Release.
Following is the text of Press Release.
PRESS INFORMATION BUREAU
GOVERNMENT OF INDIA
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GOVERNMENT DECIDES TO FIX INTEREST RATES AT 8.7% FOR GENERAL PROVIDENT FUND(GPF) AND OTHER SIMILAR FUNDS INCLUDING SPECIAL DEPOSIT SCHEME, 1975(SDS,1975) FOR NON-GOVERNMENT PROVIDENT, SUPERANNUATION AND GRATUITY FUNDS FOR THE FINANCIAL YEAR 2015-16
New Delhi, April 21, 2015
Vaisakha 1, 1937
It was decided by the Government to link the interest rates of State PFs (General Provident Fund and other similar funds) including Special Deposit Scheme, 1975 (SDS, 1975) for Non-Government Provident, Superannuation and Gratuity Funds for the FY 2015-16 to Public Provident Fund (PPF) rates. In pursuance of that decision, the Government has decided to fix the rates 8.7% per annum applicable to the following:
- The General Provident Fund (Central Services).
- The Contributory Provident Fund (India).
- The All India Service Provident Fund.
- The State Railway Provident Fund.
- The General Provident Fund (Defense Services).
- The Indian Ordnance Provident Fund.
- The Indian Ordnance Factories Workmen’s Provident Fund.
- The Indian Naval Dockyard Workmen’s Provident Fund.
- The Defence Services Officers Provident Fund.
- The Armed Forces Personnel Provident Fund.
The rate of interest is applicable to the above funds w.e.f. 1st April, 2015 and until further orders. Recently, the Government had kept the interest rates for PPF and other Small Savings Schemes intact. However, interest rates for 5 year Senior citizen Saving Scheme and Sukanya Samriddhi Account Scheme have been increased from 9.2 to 9.3% and 9.1 to 9.2% respectively, keeping in view the commitment of the Government towards the welfare of the girl child and the senior citizens.