ISLAMABAD: The federal government has reduced profit rates on various National Savings Schemes, which will be effective from July 28, according to a notification issued by the Ministry of Finance.
The revised rates apply to multiple instruments, including Special Savings Certificates and Accounts, Defence Savings Certificates, Regular Income Certificates, Bahbood Savings Certificates, Pensioners’ Benefit Accounts, and Shuhada Family Welfare Accounts.
As per the notification, the annual profit on Special Savings Certificates has been cut from 10.6% to 10.4%, while the rate for Bahbood, Pensioners, and Shuhada Families has been reduced from 13.20% to 12.96%.
The return on Defence Savings Certificates over a nine-year period has been decreased from 162% to 161%, and the profit for the tenth year has been revised from 204% to 200%.
The profit on Short-Term Savings Certificates has also been lowered. However, the existing 9.50% profit rate on Savings Accounts remains unchanged.
In contrast, profit rates on Sarwa Islamic Term Accounts and Islamic Savings Accounts have been increased.
