Ministry of Finance on January 3rd 2025 issued a notification revising the interest rate for the Special Deposit Scheme for Non-Government Provident, Superannuation, and Gratuity Funds.
Starting from January 1, 2025, and continuing until March 31, 2025, the deposits made under the scheme will earn an interest rate of 7.1% per annum. This new rate is effective immediately and will apply to all eligible deposits made under the scheme during this period.
This revised interest rate reflects the government’s ongoing efforts to provide a stable and attractive return for non-government provident, superannuation, and gratuity funds, which are integral to the financial planning of employees in the private sector.
Key Points:
- Interest Rate: 7.1% per annum
- Period: January 1, 2025, to March 31, 2025
- Eligible Deposits: Non-Government Provident, Superannuation, and Gratuity Funds
For those who have invested in this scheme, it is an opportunity to benefit from the government-backed interest rate during this three-month period. Keep an eye on any future announcements for possible changes beyond March 2025.
