The Ministry of Finance on 3rd January 2022, has notified that the deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds, shall with effect from 1st January, 2022 to 31st March, 2022 bear interest at 7.1% (seven point one percent).
The Special Deposit Scheme was launched by the Union Government on July 1, 1975, with an aim to provide better returns to non-government provident funds, gratuity and superannuation funds, surplus funds of LIC, ESIC etc.
The funds invested in this scheme grow at the interest rate announced by the government. These funds also earn by investing in government securities and mutual funds. At the time of launch, the SDS offered an interest rate of 10 per cent.
