Interest Rate on Senior Citizens Welfare Fund

Last updated: 13 June 2024

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The Ministry of Finance has announced the interest rate for the Senior Citizens Welfare Fund. Deposits made into the fund between 1st April 2023 and 31st March 2024 will earn an interest of 7.15%. This rate has been effective from 1st April 2023.

MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 10th June, 2024

F. No. 13/20/2014-NS.—It is hereby notified that the deposits made under the Senior Citizens Welfare Fund, announced in the Ministry of Finance (Department of Economic Affairs) Notification No. G.S.R. 322(E) dated 18th March, 2016, shall with effect from 1st April, 2023 to 31st March, 2024, bear interest at 7.15% (Seven point one five percent). This rate will be in force with effect from 1st April, 2023.

ASHISH VACHHANI, Addl. Secy.

FAQ :

The interest rate for deposits made under the Senior Citizens Welfare Fund between 1st April 2023 and 31st March 2024 is 7.15%.

The interest rate of 7.15% is effective from 1st April 2023.

This interest rate applies to deposits made under the Senior Citizens Welfare Fund from 1st April 2023 to 31st March 2024.

This notification was issued by the Ministry of Finance, Department of Economic Affairs.

Notification No : F. No. 13/20/2014
Source : https://egazette.gov.in/(S(5afbwmvllocmyn5zhxp3hcop))/ViewPDF.aspx

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