It was decided by the Government to link the interest rates of State PFs (General Provident Fund and other similar funds) including Special Deposit Scheme, 1975 (SDS, 1975) for Non-Government Provident, Superannuation and Gratuity Funds for the FY 2015-16 to Public Provident Fund (PPF) rates. In pursuance of that decision, the Government has decided to fix the rates 8.7% per annum applicable to the following:- 

•          The General Provident Fund (Central Services).
•          The Contributory Provident Fund (India).
•          The All India Service Provident Fund.
•          The State Railway Provident Fund.
•          The General Provident Fund (Defence Services).
•          The Indian Ordnance Provident Fund.
•          The Indian Ordnance Factories Workmen’s Provident Fund.
•          The Indian Naval Dockyard Workmen’s Provident Fund.
•          The Defence Services Officers Provident Fund.
•          The Armed Forces Personnel Provident Fund.

The rate of interest is applicable to the above funds w.e.f. 1^st April, 2015 and until further orders. 

Recently, the Government had kept the interest rates for PPF and other Small Savings Schemes intact.  However, interest rates for 5 year Senior citizen Saving Scheme and Sukanya Samriddhi Account Scheme have been increased from 9.2 to 9.3% and 9.1 to 9.2% respectively, keeping in view the commitment of the Government towards the welfare of the girl child and the senior citizens.

Interest rate fixation for government provident funds linked to public provident fund rates, effective until further orders. The Government fixed the interest rate for General Provident Fund and similar funds, and for the Special Deposit Scheme, 1975 for non-government provident, superannuation and gratuity funds, at 8.7% per annum by linking those rates to the Public Provident Fund; the rate applies to a specified list of central and defence provident funds with effect from 1 April 2015 until further orders.