General Provident Fund Interest Rates raised to 8.8 percent

Government  has  increased the Interest Rates under General Provident Fund. The Deposits under the General Provident Fund (GPF) will attract 8.8 percent interest in 2012-13 against 8.6 percent in the previous year.

The government of India has revised the interest rates for the financial year 2012-13 in respect of state provident funds and special deposit schemes for non-government provident, superannuation and gratuity funds from 8.6 percent to 8.8 percent with effect from April 1, 2012,” the finance ministry said in a statement.

The move will benefit the millions of employees who contribute to the General Provident Fund, a popular fund to encourage savings.