Senior Citizens Welfare Fund to Offer 3.35% Interest for FY 2024-25: Finance Ministry Notification
Ministry of Finance has officially notified that deposits made under the Senior Citizens Welfare Fund (SCWF) will earn an interest rate of 3.35% for the financial year 2024–25. The revised interest rate applies from April 1, 2024, to March 31, 2025.
The notification issued under memo no: F. No. 13/20/2014-NS and published in the Gazette of India on June 20, 2025 by Department of Economic Affairs, Ministry of Finance.
Senior Citizens Welfare Fund (SCWF) was originally established to promote the welfare of senior citizens and is managed by the Department of Economic Affairs under the Ministry of Finance. The Fund shall be utilised for such schemes for the promotion of the welfare of Senior citizens in line with the National Policy. The interest rate is revised annually by the government and changes according to economic conditions.
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This interest rate change will impact unclaimed amounts from schemes like small savings, insurance, EPF, and PPF that are transferred to the SCWF after a certain period of inactivity. These funds are used for senior citizens welfare schemes.
