Short term savings: CDNS slashes profit rates on certificates

New rate of profit on Short Term Savings Certificates will be 9.90%, compared to 11.28% previously

ISLAMABAD:

The Central Directorate of National Savings (CDNS) has revised profit rates on its Short Term Savings Certificates. The new rates will be effective from August 29 (Wednesday), till further notification.

According to a statement issued by the CDNS, the new rate of profit on Short Term Savings Certificates for a three month investment will be 9.90%, compared to 11.28% previously; return on a six month investment will be 10.00%, as compared to 11.34% previously; and return on 12 month investments will be 11.10%, as compared to 11.40% previously. The revised rates will be applicable on investments made on or after August 29, 2012, and will not affect investments made before August 29, 2012.

Published in The Express Tribune, August 30^th, 2012.