National Savings cuts profit rates across most schemes

The Central Directorate of National Savings has reduced profit rates on most National Savings Schemes, with the revised returns taking effect from January 23, 2026.

According to data compiled by Arif Habib Limited and released on Friday, the steepest cut was made to the Short-Term Special Savings Certificates, where the return was lowered by 110 basis points to 9.58% from 10.68%.

The profit rate on the Defence Saving Certificate was reduced by 64 basis points to 10.44%, while the Regular Income Certificate was cut by 60 basis points to 9.96% from 10.56%.

Returns on the Pensioners’ Benefit Account, Behbood Savings Certificate and Shuhada Family Welfare Account were each reduced by 48 basis points to 12% from 12.48%. The Special Savings Certificate rate was lowered by 40 basis points to 10.20%.

In contrast, the Special Savings Account recorded an increase of 20 basis points, taking its return to 10.40%, making it one of the few instruments to offer a higher rate after the revision.

Market participants said the broad-based reduction in returns reflects expectations of a gradual easing in interest rates amid moderating inflation and improving macroeconomic conditions.