Rates of Profit On National Savings Schemes Decreased

The government has decreased the rates of profit on national savings certificates and schemes by up to 46 bps. The profit rates have been decreased on Regular Income Certificates (RIC), Short Term Savings Certificates (STSC), Special Saving Certificates (SSC), and Defence Savings Certificates (DSC). Meanwhile, the rates of profit on Pensioners Benefit Accounts (PBA), Behbood Saving Certificates (BSC), Shuhda Family Welfare Accounts (SFWA), and Saving Accounts Rate (SAR) are unchanged. The rate of return on RIC has decreased by 12 bps to 15 percent, while the rate of return on SSC has been slashed by 40 bps to 16 percent. The profit rate on BSC, PBA, and SFWA is unchanged at 16.08 percent each, while the rate of return on STSC has been revised downwards by 46 bps to 20.34 percent. The rate of return on Defense Saving Certificates (DSC) was cut down by 19 bps to 14.22 percent. There has been no change in the rates of return on Saving Account Rate (SAR) which currently stands at 20.5 percent.