National Savings deposits are projected to rise to Rs1.49 trillion, driven by higher inflows into savings accounts and Islamic savings products.
ISLAMABAD: The federal government expects to mobilise more than Rs627 billion in savings bank account deposits during FY2026-27, according to official budget documents, as it seeks to strengthen domestic savings through the Central Directorate of National Savings (CDNS).
The documents released by the Ministry of Finance project deposits in savings bank accounts maintained by the Central Directorate of National Savings (CDNS) at Rs627.40 billion during the current fiscal year, compared with Rs587 billion in FY2025-26.
The government, however, fell short of its previous year’s target of Rs607 billion in savings bank account deposits.
National Savings deposits projected to rise
Overall deposits in National Savings schemes are projected to increase to Rs1.49 trillion in FY2026-27 from Rs1.44 trillion in the preceding fiscal year, reflecting expectations of higher household savings despite changing investment preferences.
Mixed outlook across savings instruments
The budget estimates show varying trends across different National Savings products.
Deposits in Defence Savings Certificates are projected to decline slightly to Rs23.16 billion, compared with Rs23.33 billion in the previous fiscal year.
Deposits in Special Savings Certificates (Registered) are expected to increase to Rs99 billion, up from Rs96 billion.
Similarly, Special Savings Accounts are forecast to record a modest increase to Rs17 billion, compared with Rs16.43 billion a year earlier.
By contrast, deposits in Regular Income Certificates are expected to fall to Rs111.90 billion from Rs114.45 billion.
The government also anticipates a decline in deposits under Pensioners’ Benefit Accounts, which are projected at Rs127.32 billion, down from Rs129.72 billion in FY2025-26.
Likewise, deposits in Behbood Savings Certificates, a scheme designed primarily for old-age citizens and widows, are expected to decrease to Rs274 billion, compared with Rs281 billion in the previous year.
Islamic savings products gain momentum
Among the strongest-performing products, Sarwa Islamic Savings and Term Accounts are projected to attract Rs85 billion in deposits during FY2026-27, representing a significant increase from Rs75 billion in the previous fiscal year.
The higher projection reflects growing public interest in Shariah-compliant savings and investment products.
Financial experts said the government’s deposit targets indicate continued reliance on National Savings schemes as an important source of domestic financing. They added that the expected growth in Islamic savings products highlights changing investor preferences, while declining projections for some traditional savings instruments suggest savers are increasingly diversifying their investment portfolios in response to evolving market conditions and profit rates.