Profit rates on National Savings Schemes revised

Staff Reporter

Sunday, August 26, 2012 - Islamabad—In response to considerable slash in discount rate by State Bank of Pakistan, the Federal Government has downward revised the profit rates on National Savings Schemes for the investment made on or after 27-08-2012.

According to a statement of CDNS issued here said that the instant revision has been made in the backdrop of current market scenario and in accordance with the government’s policy to provide market based competitive rate of return to the investors of National Savings.

As per Notification issued by Federal Government the new rates for Special Savings Certificates(R)/Account, Regular Income Certificate, Defence Savings Certificates and Savings Accounts has been fixed at 10.80%, 11.04%, 11.50% and 7.40% respectively.

The profit rate of return for specialized Savings Schemes i.e. Bahbood Savings Certificates and Pensioners’ Benefit Account has also been revised and fixed at 13.50% in order to provide safety net to specialized segment of society.

It is pertinent to mention that the investment made before the closing hours of 24-08-2012 will enjoy the previous profit rates.

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