FinanceLane
  • Funding
    • Equity Funding
    • Debt Funding
    • Crowdfunding
    • Real Estate Funding
  • Investing
    • Stocks
    • Bonds
    • Mutual Funds
    • Commodities
    • Forex
    • Private Equity
    • Real Estate
    • Crypto Investing
  • Lending
    • Personal Loan
    • Business Loan
    • Mortgage
    • Credit Card
    • Microfinance
    • Peer-to-Peer Lending
  • Insurance
    • Life Insurance
    • Health Insurance
    • Auto Insurance
    • Education Insurance
    • General Insurance
  • Banking
    • Individual Banking
    • Business Banking
    • Investment Banking
    • Neo Banking
    • Payments Bank
  • Crypto
    • Crypto Coins
    • Crypto Trading
    • Bitcoin
    • Blockchain
    • DAPP
    • Crypto Investing
  • Wealth
    • Earning
    • Savings
    • Investments
    • Budgetting
    • Credit Management
    • Tax Planning
    • Retirement
  • Fintech
    • Payments
    • Digital Banks
    • Alternative Financing
    • Asset Management
    • Softwares
  • Venture
    • Startup Ecosystem
    • Merging & Acquisition
    • Equity Investing
    • Franchising
    • Business Offers
  • Login
No Result
View All Result
  • Earning
  • Savings
  • Investments
  • Budgetting
  • Credit Management
  • Tax Planning
  • Retirement
  • Advisory Lane
FinanceLane
Home News Feed Advisory

Central govt employees: General Provident Fund (GPF), CPF interest rates announced for Oct-Dec 2022 quarter

FinanceLanebyFinanceLane
October 6, 2022
in Advisory, Investments, News Feed, Savings, Tax Planning, Wealth
Reading Time: 2 mins read

The Ministry of Finance has announced the interest rate for General Provident (GPF) and other similar provident fund schemes. The ministry has kept the interest rate unchanged for GPF and similar funds for the October-December quarter, of 2022.

According to a resolution released by the Department of Economic Affairs (DEA), Ministry of Finance on October 3, “It is announced for general information that during the year 2022-2023, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.1 per cent (Seven point one percent) w.e.f. 1st October 2022 to 31st December2022.”

Accordingly, the interest rate on GPF and other similar funds would be 7.1 per cent for the October-December quarter, 2022. These rates are effective from October 1, 2022, the DEA said in the resolution.

Interest rates of GPF, other provident fund schemes
The funds that will fetch an interest rate of 7.1 per cent for the December quarter, 2022 are

1. The General Provident Fund (Central Services);

2. The Contributory Provident Fund (India)

3. The All India Services Provident Fund

4. The State Railway Provident Fund

5. The General Provident Fund (Defence Services)

6. The Indian Ordnance Department Provident Fund

7. The Indian Ordnance Factories Workmen’s Provident Fund

8. The Indian Naval Dockyard Workmen’s Provident Fund

9. The Defence Services Officers Provident Fund

10. The Armed Forces Personnel Provident

Also read:
Was PPF interest rate hiked for the October-December 2022 quarter?

What is a General Provident Fund?

General Provident Fund is a type of provident fund that is available only for government employees in India. All government employees are allowed to contribute a certain percentage of their salary to the General Provident Fund. Hence, the total amount accumulated during the employment term is paid to the employees at the time of retirement. The finance ministry revises the interest rate on GPF every quarter.

Employees’ Provident Fund (EPF) interest rate has been set at 8.1 per cent for 2021-22.

Also read: EPF interest: Why interest credited into EPF account is not visible, finance ministry clarifies

Small saving schemes’ interest rates for December-October quarter
The Union government announced an increase in the interest rates of certain small savings schemes for the October-December quarter of 2022. The interest rate of Senior Citizen Savings Schemes has been hiked to 7.6 per cent. Kisan Vikas Patra will fetch an interest rate of 7 per cent for the December quarter, of 2022. The interest rate on a 3-year post office time deposit has been raised to 5.8 per cent while the interest rate on 2-year post office time deposit has been increased to 5.7 per cent. Interest rates of the rest of the small savings schemes like PPF and Sukanya Samriddhi Yojana have been kept unchanged for the October-December quarter, 2022.

Source Link

Related Topics

Blockchain

Opensea Opens Bulk NFT Listings & Purchases for Users

Bitcoin

Bitcoin’s Lightning Network Capacity Crosses 5,000 BTC Benchmark

Prev Next

You May Like

Blockchain

Opensea Opens Bulk NFT Listings & Purchases for Users

Bitcoin

Bitcoin’s Lightning Network Capacity Crosses 5,000 BTC Benchmark

Advisory

Bank FDs vs post office term deposit: Which offers senior citizens higher interest rate for short term

Blockchain

Crypto.com Offers Google Pay and Apple Pay Support for Canadian Users

Blockchain News

Coinbase Introduces PayID and Premium Services for Aussie Retail Customers

Blockchain News

Yuga Labs Sets Up BAYC Community Council to Boost Innovations

Advisory

Central govt employees: General Provident Fund (GPF), CPF interest rates announced for Oct-Dec 2022 quarter

Bitcoin

Bitcoin Crosses $20K Mark, as Whales Continue to Accumulate Tokens

Financial News

Advisory

Earn 10-12% return on this P2P debt product by LenDenClub: Should you invest?

FinanceLane
by FinanceLane
Advisory

RBI says that inflation has peaked; Here’s how to cushion your investment

FinanceLane
by FinanceLane
Blockchain

Blockchain in Manufacturing Market Expected to Hit $17 Billion by 2027

Blockchain
by Blockchain
Advisory

FD premature withdrawal penalty charge: SBI vs HDFC Bank vs ICICI Bank vs PNB vs Yes Bank

FinanceLane
by FinanceLane
Blockchain News

Ethereum Founder Vitalik Buterin Speculates the Merge Will Happen on September 15

Blockchain
by Blockchain
Blockchain News

Ripple Launches Crypto On-Demand Liquidity Service in Brazil

Blockchain
by Blockchain
Blockchain News

Lazarus-Linked Blender.io Added to US Treasury’s Sanction List

Blockchain
by Blockchain
Advisory

EPF withdrawal: 12 instances when you can apply for non-refundable EPF advance

FinanceLane
by FinanceLane
Bitcoin

Propy Partners with Crypto Lending Platform Abra, Launching Crypto-backed Real Estate Loans

Blockchain
by Blockchain
Blockchain News

Bank Indonesia to Evaluate CBDC Influence to Local Economy

Blockchain
by Blockchain
Blockchain News

Luxury Watchmaker TAG Heuer to Accept Crypto Payments

Blockchain
by Blockchain
Advisory

How to use SBI WhatsApp banking

FinanceLane
by FinanceLane
Load More
FinanceLane.com
  • Disclaimer
  • Privacy Policy
  • Terms of use
  • Subscribe
  • Contact

Subscribe to get the latest updates

Follow us on

© 2022 FinanceLane.com. All rights reserved.

  • Home
  • Funding
    • Equity Funding
    • Debt Funding
    • Real Estate Funding
    • Crowdfunding
  • Investing
    • Stocks
    • Bonds
    • Mutual Funds
    • Private Equity
    • Merging & Acquisition
    • Real Estate
  • Lending
    • Personal Loan
    • Business Loan
    • Credit Card
    • Microfinance
    • Peer-to-Peer Lending
  • Insurance
    • Life Insurance
    • Auto Insurance
    • Education Insurance
    • Health Insurance
  • Banking
    • Business Banking
    • Payments Bank
    • Investment Banking
    • Individual Banking
  • Wealth
    • Earning
    • Savings
    • Investments
    • Budgetting
    • Credit Management
    • Tax Planning
    • Retirement
  • Fintech
    • Alternative Financing
    • Payments
    • Asset Management
    • Digital Banks
    • Softwares
  • Fintech
    • Alternative Financing
    • Asset Management
    • Digital Banks
    • Softwares
    • Payments
  • Crypto
    • Crypto Investing
    • Crypto Trading
    • Crypto Coins
    • Bitcoin
    • Blockchain
    • DAPP
  • Subscribe
  • Contact
  • Login

© 2022 FinanceLane - Terms and Conditions | Disclaimer | Privacy Policy

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.