The Ministry of Finance on 14th July 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 July, 2022 to 30th September, 2022 bear interest at 7.1% (seven point one percent). This rate will be in force w.e.f. 1st July 2022.
The Special Deposit Scheme was launched 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 SDS grow at the interest rate announced by the government. These funds also earn by investing in government securities and mutual funds.
