The Central Directorate of National Savings (CDNS) has adjusted the interest rates for various National Savings Schemes. This marks the fourth rate revision in five months.
As per reports, rates for Special Savings Certificates (SSC) were cut by 10 basis points to 15.70% from 15.8%. Regular Income Certificates (RIC) now offer a return of 14.64%, down from 14.76%.
Interest rates for Bahbood Savings Certificates (BSC), Pensioners Benefit Account (PBA), and Shuhada Family Welfare Account (SFWA) also decreased by 24 basis points to 15.36%.
The rate for Defence Savings Certificates was slightly reduced by 1 basis point to 14.39%.
Conversely, Short Term Savings Certificates (STSC) rates increased by 24 basis points to 19.24%. The Sarwa Islamic Term Account (SITA) saw a rise of 56 basis points, bringing the rate to 19.1%.
The profit rates for the Saving Account and Sarwa Islamic Savings Account (SISA) remain stable at 20.5% each.
These changes were effective from May 14, 2024.
