Profit rates on saving schemes reduced by 1%.
As the inflation rate drops in the country, the Directorate of National Savings has officially announced a reduction in the profit rates on various savings schemes, The Asian Mirror reported on Thursday.
According to a notification issued by the directorate, the revised rates will take effect from May 21, 2025.
The directorate stated that profit rates have been reduced by up to one percent, varying across different savings products.
1% reduction
As per the detailed notification, the profit rate on savings accounts has been reduced by 1%, now standing at 9.5%.
Similarly, the Special Savings Certificates will now yield 10.9%, following a 30 basis points cut.
The Regular Income Certificates will offer a return of 11.52%, after an 18 basis point reduction, while the Defense Savings Certificates will now provide 11.91%, after a 21 basis point decrease.
For Behbood Savings Certificates, Pensioners’ Benefit Accounts, and Shuhada Family Welfare Accounts, the new profit rate has been set at 13.4%, reflecting a 24 basis point decline.
Officials stated that the decision was taken in consideration of current inflation trends and monetary policy direction.
