The Central Directorate of National Savings (CDNS) has revised the return rates for several of its National Savings Schemes (NSS), effective September 17, 2025. According to data compiled by Arif Habib Limited (AHL) Research, the revised rates reflect ongoing changes in Pakistan’s interest rate landscape.
The return on Short-Term Savings Certificates has been increased by 6 basis points (bps), now offering a rate of 10.42% per annum, up from the previous rate of 10.36%.Â
The Sarwa Islamic Savings Account and Sarwa Islamic Term Account both saw their returns raised by 42 bps, now offering a rate of 9.92%, compared to the earlier rate of 9.50%.
Conversely, the return on Defence Savings Certificates has been lowered by 12 bps, now standing at 11.42%, down from 11.54%.
Analysts attribute these adjustments to the broader interest rate environment, influenced by the State Bank of Pakistan’s recent monetary policy decision to keep the benchmark policy rate unchanged at 11%.Â
