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Sarkari.tools61 calculators for India

GPF Interest Calculator

Compute General Provident Fund (GPF) interest accumulation, monthly balances, and final maturity lump sum.

₹
₹
% p.a.
₹
Annual subscription
₹1,20,000
Interest earned
₹40,115
At 7.1% p.a.
Withdrawals
₹0
Closing balance (31 March)
₹6,60,115
Month-wise GPF interest schedule
MonthOpeningSubscriptionBalanceInterest
April₹5,00,000₹10,000₹5,10,000₹3,018
May₹5,10,000₹10,000₹5,20,000₹3,077
June₹5,20,000₹10,000₹5,30,000₹3,136
July₹5,30,000₹10,000₹5,40,000₹3,195
August₹5,40,000₹10,000₹5,50,000₹3,254
September₹5,50,000₹10,000₹5,60,000₹3,313
October₹5,60,000₹10,000₹5,70,000₹3,373
November₹5,70,000₹10,000₹5,80,000₹3,432
December₹5,80,000₹10,000₹5,90,000₹3,491
January₹5,90,000₹10,000₹6,00,000₹3,550
February₹6,00,000₹10,000₹6,10,000₹3,609
March₹6,10,000₹10,000₹6,20,000₹3,668

How this is calculated

Interest accrues each month on the balance at the close of that month, and is credited once at the end of the financial year, so it does not compound within the year.

Monthly rate = 7.1% ÷ 12 = 0.5917%

GPF Interest Calculator: how it works

GPF interest accrues month by month on your closing balance but is credited only once, at the end of the financial year. That distinction is what most calculators get wrong.

How GPF interest actually accrues

Interest is calculated on the balance standing to your credit at the close of each month, at one twelfth of the annual rate. Those twelve monthly figures are added together and credited as a single amount on 31 March.

Worked example

Worked example · Opening balance ₹5,00,000 with ₹10,000 monthly subscription at 7.1%

Given

  • Opening balance on 1 April: ₹5,00,000
  • Monthly subscription: ₹10,000
  • Rate: 7.1% per annum

Working

  1. 1Monthly rate = 7.1 ÷ 12 = 0.5917%
  2. 2April closing = 5,00,000 + 10,000 = ₹5,10,000 → interest ₹3,018
  3. 3May closing = ₹5,20,000 → interest ₹3,077
  4. 4and so on through March
  5. 5Total of twelve monthly figures = ₹40,115

Closing balance on 31 March: ₹6,60,115

Timing your subscription

You may vary your subscription during the year subject to the minimum of 6 percent of basic pay, and there is no maximum beyond your own pay.

Withdrawals and advances

A withdrawal reduces the balance from the month it is taken, so it reduces interest for the remaining months of the year. An advance behaves the same way but is repaid in instalments that restore the balance over time.

  • GPF is tax-free at every stage: contributions, interest and withdrawal.
  • The rate is notified quarterly by the Ministry of Finance and has held at 7.1 percent for some time.
  • Only Old Pension Scheme employees have a GPF account; NPS subscribers do not.

Based on

  • General Provident Fund (Central Services) Rules
  • Ministry of Finance quarterly interest rate notifications

Frequently asked questions

On the balance at the close of each month, at one twelfth of the annual rate. The twelve monthly amounts are summed and credited once on 31 March, so interest does not compound within the year.

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