EPFO lowers interest rate on deposit to 8.50% for FY2019-20

Employees Provident Fund Organisation (EPFO) on Thursday lowered the interest rate on deposits to 8.50 per cent for the current financial year 2019-20.

The interest rate, which is the lowest rate fixed in seven years, was reduced from the previous rate of 8.65 per cent in 2018-19. The Central Board of Trustees, which is the apex decision-making body of the EPFO, fixes the interest rate.