National Savings Centre lowers rate of return

ISLAMABAD: The National Savings Centre has unveiled new rates for three of its savings schemes, marking a significant adjustment in the rate of return for savers.

The most notable change is the reduction in the profit rate on savings accounts, which has been decreased by 1.5 per cent, bringing it down to 19 per cent.

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The rate on short-term savings certificates has also seen a reduction of 1.34 per cent, now standing at 17.90 per cent. This adjustment is expected to impact short-term savers who rely on these certificates for secure returns.

The Sarva-Islamic Savings Accounts have also been affected, with the profit rate being reduced by 1.5 per cent to a new rate of 19 percent.

Despite these reductions, the National Savings Centre has assured that the rate of return on all other National Savings Schemes remains unchanged.

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This announcement comes as part of the government’s ongoing efforts to adjust financial policies in response to economic conditions, aiming to balance the needs of savers with broader economic objectives. Savers are advised to review these changes and consider their investment strategies accordingly.