National Saving certificates profit rates reduced significantly

KARACHI: The government has slashed profit rates on the national savings certificates across all categories with the decline going as much as 309 basis points.

According to a notification, the profit rate on the Bahbood Saving Certificates has decreased from 14.16 per cent to 13.92 per cent.

Profit rate on the Regular Income Certificates has decreased from 12.72 per cent to 12.12 per cent. Special Saving Certificates profit rate has been decreased from 15.20 per cent to 13 per cent.

According to the notification, profit rate on the Pensioners Account has been decreased from 14.2 percent to 13.92 percent. Profit rate on the Shuhada Accounts has been slashed from 14.16 per cent to 13.9 per cent.  

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Profit rate on the Sarwa Islamic Saving Certificate has been decreased from 14.25 per cent to 11.16 per cent.

The new NSS profit rates will also take effect from Nov 4. NSS investments in July and August this year totalled Rs18.4 billion and Rs5.82 billion, respectively.