Pakistan revises profit rates on National Savings' certificates

Pakistan government on Wednesday announced a reduction in profit rates for various national savings schemes, ARY News reported.

According to a notification issued by the finance ministry, the profit rate on Regular Income Certificates has been reduced to 15.12 per cent from 16.08 per cent. Likewise, the return on Special Savings Certificates has been scaled down to 16.40 per cent from 18%.

Similarly, the profit rate on short-term certificates has been reduced to 20.80 per cent from 21.72 per cent.

Read more: Govt raises profit rate on national savings’ Sarwa certificates

The returns on Behbood Savings, Pension Benefit Account and Shuhada Family Welfare Account have been reduced to 16.08 per cent.

However, the rate of return on Defense Saving Certificates and Saving Accounts will remain unchanged.

In September, the federal government raised the profit rate on national savings’ Sarwa Islamic certificates with effect from September 5, 2023.