Sunday, 4 December 2011

GPF (General Provident Fund) interest rate hike

There is a demand to increase the interest rate of General Provident Fund (GPF). The Government of India recently decided to increase the interest rate of small saving schemes such as PPF (Public Provident Fund), NSC (National Savings Certificate) etc. The rate of interest of EPF (Employees Provident Fund) is also higher than the interest rate of GPF.  In such situation government employees also expect a hike in their interest rate.

The interest rate of PPF (Public Provident Fund) rose from 8% to 8.6% and the interest rate of NSC rose from 8% to 8.4%. New Ten years NSC also gets 8.7% interest. Employees Provident Fund (EPF) also got 9.5% interest in the financial year 2010-2011.

Government employees invest a part of their salary in their GPF account for the use of their retirement fund. There is a demand to increase the GPF interest rate and make it par with EPF (Employees Provident Fund) from various associations and leaders.

We hope that the government will take a favorable decision in this matter and increase the interest rate of General Provident Fund as soon as possible.

Courtesy: Economic Times

Related Posts
PPF investment limit hike & interest hike accepted
EPF,PPF & Tax Saving Fixed Deposits under 80C
More benefits in NSC, PPF, small saving investments

GPF (General Provident Fund) interest rate hike


 

No comments :

Post a Comment