Govt revises profit rates on national savings schemes

ISLAMABAD: The Ministry of Finance on Thursday revised profit rates on various National Savings schemes, ARY News reported.

According to a notification, the new profit rates will be applicable from June 17 (today).

The profit rate on 10-year Defence Savings Certificate has been fixed at 9.35 per cent, Regular Income Certificate at 8.76pc, and 6-month Short-Term Savings Certificate at 7.20PC.

Whereas, the profit rate on Pensioners Benefit Account, Shuhada Welfare Account, Special Savings Certificates, Behbood Savings Certificate and saving accounts will remain unchanged, the notification said.

Last month, the government had announced a reduction in profit rates for national savings schemes. The profit rate on Regular Income Certificates was reduced to 9.24 per cent from 9.36 per cent. Likewise, the return on Special Savings Certificates was scaled down to 8.75 per cent from 8.87 percent.

Similarly, the profit rate on the six-month short-term certificate was reduced to 7.20 per cent from 7.30 per cent. However, the rate of return on Behbood Savings Certificates, Shuhada Family Welfare Account, Pensioners’ Benefit Account and Defence Saving Certificates was kept unchanged.