The government has revised profit rates on National Savings Schemes effective December 10, with significant reductions across several products, according to a report by Arif Habib Ltd.
The most substantial cut was applied to Savings Accounts, where the profit rate dropped by 250 basis points, falling from 16% to 13.5%. Regular Income profit rates saw a minor reduction of 10 basis points, now set at 12.1%.
In Islamic products, the profit rate for Serwa Islamic Savings Accounts and Serwa Islamic Term Accounts was reduced by 72 basis points to 10.44%.
The rate revisions come amidst broader adjustments in economic and financial policies, impacting savers reliant on these instruments for returns.
