Latest profit rates on National Saving Schemes following revision

Profit rates on Serva Islamic Term Accounts and Serva Islamic Savings Accounts remain unchanged
An undated image of Pakistani rupee. — Adobe Stock

An undated image of Pakistani rupee. — Adobe Stock

In a bid to bring the savings schemes on par with the country's economic posture, the government slashed the profit rates on National Savings Schemes (NSS) by up to 2% in a revision.

However, profit rates on Special Saving Certificates, Accounts, Serva Islamic Term Accounts, and Serva Islamic Savings Accounts remained unchanged.

Citing a notification issued by the Central Directorate of National Savings (CDNS), The Express Tribune reported that the profit rates on Regular Income Certificates, Behbood Savings Certificates, and Pensioners' Certificates were dropped to 11.88%, 13.68%, and 13.68%, respectively, which previously stood at 12%, 13.92%, and 13.92% on an annual basis.

In addition to adjusting the rates for short-term certificates, which were cut from 3,190 PKR per 100,000 to 2,810 PKR per 100,000, the government also reduced the profit rates on Shaheed Families Welfare Accounts from 13.92% to 13.68% annually.

NSS revision also caused the rates for six-month short-term certificates to tumble from 6,370 PKR per 100,000 to 5,660 PKR and brought those of one-year short-term certificates down to 11,380 PKR per 100,000 from 12,380 PKR.

The CDNS notification also stated that the profit rate on savings accounts was reduced from 13.50% to 11.50% annually.