The government has kept the interest rate unchanged at 7.1 percent on General Provident Fund — a social security scheme available to central government employees — for the period up to March 31, 2023.
According to the finance ministry, the rate will be in force with effect from January 1.
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The Centre recently hiked interest rates on various small saving schemes like Senior Citizen Savings Scheme, National Savings Certificate (NSC), Post Office Term Deposits, for the March 2023 quarter. But there is no change in the interest rates on Public Provident Fund (PPF) and the girl child savings scheme Sukanya Samriddhi Yojana (SMY).
The Finance Ministry in a circular on Friday informed that the interest rates on these small savings schemes have been hiked by up to 110 bps for the January-March 2023 quarter.
