Senior Citizens Welfare Fund Interest Rate from 1st April, 2024 to 31st March, 2025: Ministry of Finance Notification

Senior Citizens Welfare Fund Interest Rate from 1st April, 2024 to 31st March, 2025 @ 3.35%: Ministry of Finance Notification dated 20.06.2025

MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION

New Delhi, the 20 June ,2025

F. No. 13/20/2014-NS.–– It is hereby notified that the deposits made under the Senior Citizens Welfare Fund, announced in the Ministry of Finance (Department of Economic Affairs) Notification No. G.S.R. 322(E) dated 18th March, 2016, shall with effect from 1st April, 2024 to 31st March, 2025, bear interest at 3.35% (Three point three five percent). This rate will be in force with effect from 1st April, 2024.

VYASAN R, Jt. Secy.

Senior Citizens Welfare Fund (SCWF)

A Senior Citizens Welfare Fund (SCWF) has been established under the Finance Act, 2015.

The Fund Shall be utilised for such schemes for the promotion of the welfare of Senior citizens in line with the National Policy on Older Persons and the National Policy on Senior Citizens.

The unclaimed money lying under Small Savings Schemes, Employees Provident Fund, Public Provident Fund schemes, Life and non-life insurance schemes or polices maintained by insurance companies and accounts of Coal Mines Provident Fund is transferred into Senior Citizens’ Welfare Fund.