The government has reduced the profit rates offered to the public on different national savings schemes.
According to a notification issued by the Ministry of Finance, the rate of return on several schemes has been decreased, while a slight increase has been made in some Islamic savings schemes.
The annual return on Special Savings Certificates has been reduced from 10.6% to 10.4%, while the return on Behbood Savings Certificates, Pensioners’ Benefit Accounts, and Shuhada Family Welfare Accounts has been lowered from 13.20% to 12.96%.
The total return on Defense Savings Certificates for 9 years has been reduced from 162% to 161%, and the return for the 10th year has been revised down from 204% to 200%.
Similarly, the profit rates on Regular Income Certificates and Short Term Savings Certificates have also been reduced. However, the existing interest rate on Savings Accounts has been maintained at 9.50%.
On the other hand, the profit rates on all Islamic Term Accounts and Islamic Savings Accounts have been increased. The new rates will be effective from tomorrow.
