ISLAMABAD (Daily Point) – The government has made significant changes to the profit rates offered by national savings certificates and schemes, with adjustments of up to 100 basis points (bps).
The alterations primarily affect Regular Income Certificates (RIC), Savings Accounts (SA), and Short Term Savings Certificates (STSC), resulting in higher profit rates for these instruments. Meanwhile, Special Savings Certificates (SSC), Behbood Savings Certificates (BSC), and Pensioners Benefit Account (PBA) have seen their profit rates revised in a downward direction.
Specifically, the rate of return on Regular Income Certificates (RIC) has surged by 96 bps, reaching 16.1 percent, while Savings Accounts (SA) now offer an increased rate of return, up by 100 bps to 20.5 percent. Short Term Savings Certificates (STSC) have also seen a substantial boost, with profit rates raised by 100 bps to 21.8 percent.
Conversely, both Behbood Savings Certificates (BSC) and Pensioners Benefit Account (PBA) have experienced a decrease in profit rates, each declining by 24 bps to 16.3 percent. Special Savings Certificates (SSC) have been adjusted downward by 20 bps, resulting in a new rate of return of 18 percent.
It’s important to note that there have been no alterations to the rates of return on Defense Saving Certificates (DSC). This update to the national savings schemes aims to provide more favorable returns to investors in selected schemes while aligning them with the evolving economic landscape.
