Govt reduces up to 5.42% profit rates on National Savings Schemes

Profit rates of various certificates and accounts have been reduced, according to a notification


Irshad Ansari April 24, 2020
PHOTO: EXPRESS/FILE

ISLAMABAD: The federal government has reduced the rate of profit on various National Savings Schemes by up to 5.42 per cent with effect from Friday, according to a notification.

The profit rate on Defence Saving Certificate was reduced to 8.54 per cent from 10.40. Similarly, for 10-year Pensioners' Benefit Account, Behbood Saving Certificates and Shuhadas Family Welfare Account, it has been reduced to 10.32 per cent from 12.24 per cent.

The profit rate for certificate holders of five-year Regular Income Certificates has been reduced to 8.28 per cent from 10.56 per cent while it was reduced to 8 per cent from 11 per cent for Special Saving Certificates.

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The average profit rate on certificates and accounts was reduced from 11.13 per cent to 8.10% per cent.

In short-term saving certificates, the profit rate on three-month certificates has been reduced from 12.76 per cent to 7.80 per cent. on six-month certificates, the profit rate has been reduced from 12.60 per cent to 7.50 per cent.

The profit rate for 12-month certificates has been reduced from 12.37 per cent 6.95 per cent.

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