ISLAMABAD: The Central Directorate of National Saving (CDNS) on Thursday slightly increased profit rates on a three savings instruments with immediate effect.
According to a notification, the return on 10-year defence savings certificates has been increased by 0.06 percentage points to 9.35pc from existing rate of 9.29pc.
Likewise, the return on five-year regular income certificates was jacked up by 0.12 percentage points to 8.76pc from existing rate of 8.64pc.
Similarly, the rate of return on six-month savings certificates has been enhanced by 0.06 percentage points to 7.20pc instead of 7.14pc.
On the other hand, return on all other products including Special Saving Certificates (SSC), Short-Term Saving Certificates (STSC), Saving Accounts, Pension Behbood Accounts, Special Savings Accounts and Shuhada Family Welfare Accounts would remain unchanged.
Pakistan reduces profit rates on National Savings schemes
They will be applicable from May 19 SAMAA | Shakeel Ahmed - Posted: May 18, 2021 | Last Updated: 3 days ago SAMAA | Shakeel Ahmed Posted: May 18, 2021 | Last Updated: 3 days ago
Photo: SAMAA Digital
The government has reduced profit rates on National Savings schemes, the Ministry of Finance said in a notification Tuesday.
The profit on Shuhada Family Welfare Accounts and Pensioners
Benefit Accounts has been reduced to 11.04% from 11.52%, according to the
notification.
The government has reduced the profit on Regular Income
Certificates by Rs600 to Rs7,200.
Short-term Savings Certificates worth Rs500,000 have their
profit slashed by Rs500, the notification read. People having these
National Saving Certificate Latest Profit Rates 2021
National Saving Certificate profit rates increased by the Finance Ministry. The new rates will come into effect from January 21. Check out the details of the increases below.
For those who do not know, National Saving Schemes certificates have vital importance for the country’s citizens. These saving schemes enable people to deposit their savings and receive a percentage of profit each month. With the help of it, many retired and senior citizens have been able to live independently. According to the recently issued revised list of profits by the Finance Minister, there is surely great news for national saving account holders. The government has issued a revised national saving certificate profit policy by increasing the profit percentage for different national certificates.
The rate of return on savings accounts remains unchanged at 5.5pc. Reuters/File
ISLAMABAD: The government on Thursday revised upward profit rates on all national saving schemes and accounts of the Central Directorate of National Savings. The new rates will be applicable to deposits and investment with effect from January 21.
According to several notifications issued by the finance ministry, profit on Defence Savings Certificate has been increased by 0.93 percentage points to 9.42pc from 8.49pc. The DSC rate had been steadily on the rise since July 1, 2018 and it peaked to 13.01pc in October 2019.
The rate of return on Behbood Savings Certificate has been increased by 0.96 percentage points to 11.28pc from 10.32pc. On May 1, 2018, the BSC rate was 10.08pc that reached 14.76pc in October 2019.