The government has increased profit rates on several National Savings schemes in Pakistan, with the revised rates taking effect on October 21. The changes offer higher returns on multiple savings certificates and income accounts, while the rate on regular Savings Accounts remains unchanged at 10 percent.
The profit rate on Special Savings Certificates has increased from 11.6 percent to 12 percent. The rate on Regular Income Certificates has also risen, from 11.76 percent to 12.12 percent.
Which National Savings Schemes Offer Higher Returns?
Profit rates on Behbood Savings Certificates, Pensioners’ Benefit Accounts, and Shuhada Family Welfare Accounts have increased from 12.72 percent to 12.96 percent. However, the government has maintained the profit rate on Savings Accounts at 10 percent.
Defence Savings Certificates have also received higher profit rates across different maturity periods. The rate for six-year certificates has increased from 86 percent to 88 percent, while the rate for seven-year certificates has risen from 109 percent to 113 percent.
For eight year Defence Savings Certificates, the profit rate has increased from 136 percent to 142 percent. The rate for nine year certificates has risen from 168 percent to 176 percent, while the rate for 10 year certificates has increased from 205 percent to 215 percent.
The government has also raised the profit rate on Sarwa Islamic Term Accounts from 11.33 percent to 11.84 percent. Meanwhile, the rate on Short Term Savings Certificates has increased from 10.80 percent to 11.12 percent.
The post National Savings Pakistan Announces Higher Profit Rates appeared first on ProPakistani.