Govt raises profit rate on national savings' Sarwa certificates
- By Web Desk -
- Oct 09, 2023
The federal government on Monday raised the profit rate on national savings’ Sarwa Islamic certificates with effect from September 5, 2023, ARY News reported.
According to a notification issued, the federal government has raised the profit rate on Sarwa Islamic Certificates by 21.8% for a year, while the profit margin for five years investments will be 15.12 per cent.
The revised profit margin has come into effect from September 5.
In August last year, the National Savings announced a hike in profit on regular income certificates and saving accounts.
According to a handout issued, the interest rate has been hiked to 12.6 percent on regular income certificates while profit on saving accounts has also been hiked by 1.25 percent to 13.6 percent.
The profit on Pension Benefit and Behbud Saving and Special Certificates in National Savings will remain unchanged at 14.16 percent and 13 percent.