The Central Directorate of National Savings (CDNS) has announced a downward revision in profit rates across several government-backed savings schemes, with reductions reaching up to 100 basis points, reflecting the broader trend of declining market interest rates.
Data published by Topline Securities on Wednesday revealed that the most substantial cut was applied to the Basic Savings Account, where the rate was reduced by 100 basis points to 9.5 percent.
The Special Savings Certificate saw a decrease of 30 basis points, bringing the return down to 10.9 percent, while the Defense Savings Certificate rate declined by 21 basis points to 11.91 percent.
Other widely subscribed instruments also experienced rate adjustments. The Regular Income Certificate now offers a return of 11.52 percent following an 18 basis point cut, while the Pensioners Benefit Account was reduced by 24 basis points to 13.44 percent.
Similarly, the Behbood Savings Certificate and the Shuhada Family Welfare Account—both designed for senior citizens and the families of martyrs—also saw their rates lowered by 24 basis points, now standing at 13.44 percent.
Profit rates on Shariah-compliant products were similarly revised. The Sarwa Islamic Term Account and Sarwa Islamic Saving Account both experienced a reduction of 10 basis points, with revised rates set at 10.34 percent.
