Savings schemes rates cut by 1%

The federal government has reduced interest rates on various national saving schemes by up to 1 per cent, following a decline in the inflation rate.

According to an official notification, the new rates will take effect from May 21, 2025.

After the 1 per cent cut, the interest rate on Savings Account is calculated at 9.5 per cent. In addition, the interest rate on Special Saving Certificate was reduced 30 basis points to 10.9 per cent. The interest rate on Regular Income Certificate was cut by 18 basis points to 11.52 per cent.

The government also slashed the interest rate on Defence Saving Certificate by 21 basis points to 11.91 per cent.

In addition, the interest rate on Bahbood Saving Certificate, Pensioners Benefit Account and Shuhadah Family Account was cut by 24 basis points to 13.4 per cent.

Officials from National Saving said the government had reduced the interest rates keeping in view the inflation rate and fiscal policy.