Ministry of Finance notifies 7.1% rate of interest under Special Deposit Scheme w.e.f 1st Oct

Last updated: 04 October 2022

Quick Summary
The Ministry of Finance has announced an updated interest rate for the Special Deposit Scheme. Effective from 1st October 2022, deposits made under this scheme will now earn an interest of 7.1%. This rate applies to non-government provident, superannuation, and gratuity funds and will remain in force until 31st December 2022.

MINISTRY OF FINANCE 
(Department of Economic Affairs) 
NOTIFICATION 
New Delhi, the 3rd October, 2022 

Special Deposit Scheme Interest Rate Rises to 7.1

F.No. 5(4)-B(PD)/2021.—It is hereby notified that the deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds, announced in the Ministry of Finance (Department of Economic Affairs) Notification No.F.16(1)-PD/75 dated 30th June, 1975, shall with effect from 1st October, 2022 to 31st December, 2022 bear interest at 7.1% (seven point one percent). This rate will be in force w.e.f. 1st October, 2022. 

ASHISH VACHHANI, 
Jt. Secy. 
 

FAQ :

The new interest rate for the Special Deposit Scheme is 7.1%.

The new interest rate of 7.1% came into effect from 1st October 2022.

The Special Deposit Scheme covers non-government provident, superannuation, and gratuity funds.

The 7.1% interest rate will be in force from 1st October 2022 to 31st December 2022.

The Ministry of Finance announced this change.



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