The Central Directorate of National Savings (CDNS) has cut profit rates on various savings schemes following a one-percent decrease in the interest rate by the State Bank of Pakistan.
However, profit rates for Special Saving Certificates, Special Saving Accounts, Serva Islamic Term Accounts, and Serva Islamic Savings Accounts will remain unchanged.
According to a notification issued by the CDNS on Thursday, the profit rate for Regular Income Certificates has been lowered from 12% to 11.88% per annum. Similarly, the profit rate for Behbood Savings Certificates and Pensioners’ Certificates has decreased from 13.92% to 13.68% annually. The same reduction applies to Shaheed Families Welfare Accounts.
Also read: How much will petroleum prices go up from Feb 1?
Adjustments have also been made to short-term certificates. The profit for three-month certificates has declined from Rs3,190 per Rs100,000 to Rs2,810, while six-month certificates have dropped from Rs6,370 to Rs5,660. One-year short-term certificates now offer Rs11,380 per Rs100,000, down from Rs12,380.
Moreover, the profit rate for savings accounts has been reduced from 13.50% to 11.50% annually, while rates for Serva Islamic Term Accounts and Serva Islamic Savings Accounts remain unchanged.
