CDNS updates rates of National Savings Schemes

The Central Directorate of National Savings (CDNS) has updated the rates of return for its National Savings Schemes, marking adjustments across various instruments. 

This move reverses a trend of rate decreases observed over the past three months.

Return rates for Special Savings Certificates (SSC) have been adjusted upwards by 20 basis points (bps) to 15.80%, up from 15.6%. 

Regular Income Certificates (RIC) now offer a 14.76% yield, reflecting a 12bps enhancement from the previous 14.64%.

The latest increases were also applied to Bahbood Savings Certificates (BSC), Pensioners Benefit Account (PBA), and Shuhadas Family Welfare Account (SFWA), with each now yielding 15.60% following a 24bps increase.

Conversely, Short-Term Savings Certificates (STSC) experienced a decrease in rates by 76bps, bringing the new rate to 19%.

The rates for Defence Saving Certificates (DSC), Savings Account (SA), Sarwa Islamic Term Account (SITA), and Sarwa Islamic Saving Account (SISA) remain unchanged at 14.40%, 20.50%, 18.54%, and 20.50% respectively.

The adjustments became effective from March 19, 2024.

Earlier, the Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) maintained the key policy rate at 22%, marking the sixth consecutive period without change.