ISLAMABAD – The Central Directorate of National Savings has once again reduced the profit rates on various savings schemes with new rates coming into effect from December 11.
Reports said the profit on the Savings Account has been decreased from 16% to 13.5%, a reduction of 250 basis points.
The profit rates on Regular Income Certificates and Defence Savings Certificates have also been decreased.
The profit on the Regular Income Certificate has decreased by 10 basis points to 12.1%. Furthermore, the profit rate on Short-Term Savings Certificates has also been lowered.
Additionally, there has been a reduction in the profits of the Savings Account, Sarwa Islamic Term, and other savings schemes, while the profit on the Islamic Savings Account has decreased by 72 basis points, bringing it down to 10.44%.
However, there is no change in profit rate on Behbood Savings Certificates as it stands at 13.92% without any change.
The National Savings last revised the profit rates on various investment schemes in November.
Meanwhile, the CDNS has achieved a target of Rs 550 billion in fresh bonds and achieved 15 percent of the annual target for the current fiscal year, from July 1 to November 15th.
The CDNS has set an annual target of Rs 1650 billion for the current Fiscal Year, 2024-25, which will promote the saving culture in the country, the senior official of CDNS told APP on Wednesday.
Special Savings Certificates profit rate update for December 2024
