Nidhi | Apr 2, 2025 |
Govt Notifies 7.1% as Interest Rate For Special Deposit Scheme for April- June 2025
The interest rate for the Special Deposit Scheme (SDS) has been set at 7.1% for the quarter from April 1, 2025, to June 30, 2025, as per the notification from the Ministry of Finance. This scheme is specifically for Non-Government Provident Funds, Superannuation Funds, and Gratuity Funds. The rate came into effect on April 1, 2025.
As per the Notification (F. No. 5(3)-B(PD)/2023), issued by the Ministry of Finance (Department of Economic Affairs) on April 1, 2025, the deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds, which was introduced in Notification No. F.16(1)-PD/75 dated 30th June 1975, shall earn an interest rate of 7.1% per year from 1st April 2025 to 30th June 2025.
This means these deposits will earn 7.1% annual interest between April 2025 and June 30, 2025.
The Special Deposit Scheme (SDS) is a government scheme introduced on July 1, 1975, by the Central government to offer better returns for non-government provident funds, superannuation funds, and gratuity funds. It provides a government-backed savings option. The scheme allows organizations to handle their employees’ retirement benefits effectively.
The interest rates for SDS are generally announced by the Ministry of Finance at the start of each financial quarter, which are April- June, July- September, October- December, and January- March.
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