The government of India retained the rate of interest for General Provident Fund (GPF) and other related schemes at 8.7% for the current fiscal. According to the notification issued by the Finance Ministry; he 8.7 percent interest will apply on Provident Funds of central government employees, railways and defence forces. The rate of interest will be effective from 1st April 2015.

Always Seek Knowledge:

• The interest rate for GPF is in line with the interest rate fixed for Public Provident Fund (PPF) at 8.7 percent for 2015-16.
• The interest earning for Kisan Vikas Patra has been retained at 8.7 percent.
• The interest rate for senior citizens savings scheme was hiked from 9.2 per cent to 9.3 per cent.
• Sukanya Samriddhi Account, the special deposit scheme for girl child, the interest rate has been hiked from 9.1 per cent to 9.2 per cent.
• The rate of interest will be effective from 1st April 2015.
• Government has decided to revise the rates applicable on various small savings schemes as given in the table below:

  • Scheme	Rate of interest w.e.f.01.04.2014	Rate of Interest w.e.f. 01.04.2015
    Savings Deposit	4.0	4.0
    1 Year Time Deposit	8.4	8.4
    2 Year Time Deposit	8.4	8.4
    3 Year Time Deposit	8.4	8.4
    5 Year Time Deposit	8.5	8.5
    5 Year Recurring Deposit	8.4	8.4
    5 Year SCSS	9.2	9.3
    5 Year MIS	8.4	8.4
    5 Year NSC	8.5	8.5
    10 Year NSC	8.8	8.8
    PPF	8.7	8.7
    Kisan Vikas Patra	8.7	8.7
    Sukanya Samriddhi Account Scheme	9.1	9.2