Interest rates on GPF-CPF of government employees unchanged, how much will you get in what percentage

The government has maintained the existing interest rates on the money deposited in the General Provident Fund (GPF) and Provident Fund (CPF) of government employees. The Finance Ministry has said that the interest rate of 11 to 13 percent will remain effective as before without making any new changes.

On Sunday (January 18), the Finance Department of the Finance Ministry issued a notification in this regard. The notification said that the interest rate will be determined step by step according to the amount of money deposited in GPF and CPF.

According to the notification, the interest rate on deposits up to 15 lakh taka will be 13 percent. Interest will be paid at a rate of 12 percent on deposits from 15 lakh taka to 30 lakh taka. And the interest rate on deposits of 30 lakh taka or more has been fixed at 11 percent.

It is worth noting that once upon a time, government employees used to get interest of 13 to 14 percent on the money deposited in GPF and CPF. However, in September 2021, during the tenure of then Finance Secretary Abdur Rauf Talukder, this rate was reduced to 11 to 13 percent. The rate fixed at that time remains in force till date.

GPF and CPF are one of the main sources of post-retirement financial security for government employees. While many employees expressed relief that the interest rate remained unchanged, some are also expecting higher interest rates in the current inflationary context.