Profit rates on saving schemes sharply increased

Profit rates on saving schemes sharply increased

ISLAMABAD: The government has announce sharp increase in profit rates for national saving scheme following the significant rise in key policy rate announced last month by the State Bank of Pakistan (SBP).

The Central Directorate of National Savings (CDNS) on Thursday notified increase in profit rates of saving schemes. The CDNS increased the profit rate up to 240 basis points with effect from December 10, 2021.

READ MORE: SBP increases policy rate by 150 basis points to 8.75%

The profit rate on special saving account has been increased by 240 basis points to 10.6 per cent from 8.20 per cent.

The profit rate on regular income certificate has been increased by 204 basis points to 10.8 per cent from 8.76 per cent.

The profit rate on pension and Behbood certificates have been increased by 192 basis points to 12.96 per cent from 11.04 per cent.

The profit rate has been increased by 175 basis points to 7.25 per cent from 5.5 per cent on saving accounts.

Similarly, the profit rate on defence saving certificates has been increased by 161 basis points to 10.98 per cent from 9.37 per cent.

READ MORE: CDNS decides screening all customers of national saving schemes