Profit rates on savings schemes increased

New profit rates to be applicable from Dec 10

ISLAMABAD: The government has increased profit rates on all National Saving Schemes (NSS) by up to 2.4 per cent following a hike in the policy rate.

According to a notification issued by the Ministry of Finance on Thursday in this regard, the return on pension, behbood savings certificate, regular income certificate, saving accounts, special saving account, and defence certificate have been increased with effect from December 10.

According to the details, the rate of profit on a pension certificate has been increased 1.92 per cent from 11.04pc to 12.95pc.

Similarly, the payable profit on behbood savings certificates has also been increased from 11.04pc to 12.96pc; the return on special savings certificates, with an increase of 2.40pc, has been increased from 8.2pc to 10.60pc; the return on defence savings certificates, with an increase of 1.61pc, has been increased from 9.37pc to 10.98pc, while the return on a special saving account has also been increased to 2.40pc with the new profit at 10.60pc instead of 8.20pc. 

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Moreover, the return on a regular income certificate would now be 10.86pc instead of 8.76pc with an increase of 2.04pc.  

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Ghulam Abbas
The writer is a member of the staff at the Islamabad Bureau. He can be reached at [email protected]



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