The Central Directorate of National Savings (CDNS) has lowered the rates of return on several National Savings Schemes.
The new rates, effective from September 25, 2024, will reduce profits on Defense Savings Certificates, Special Savings Accounts, and regular Savings Accounts.
Moreover, returns on Welfare Savings Certificates and Regular Income Certificates have been reduced compared to previous rates. The notification also highlights a decrease in the annual profit for Welfare Accounts aimed at martyr families and senior citizens.
Specifically, the profit rate for Pensioners’ Benefit Accounts and Martyr Family Welfare Accounts has dropped from 15.36% to 14.16%.
Similarly, Welfare Savings Certificates will now offer an annual profit of 14.16%, while the rate for Regular Income Certificates has been cut from 14.52% to 12.72%.
