The government has raised the rate of profit on national saving schemes, reported 24NewsHD TV channel.

According to the notification released on Thursday, the rate of profit on 10-year defence certificates was increased to 9.35 percent from 9.29 percent.

The rate of profit on regular income savings certificates was raised to 8.76 percent from 8.64 percent.

The rate of profit on six-month short-term savings certificate was enhanced from Rs7.14 percent to 7.20 percent.

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The notification called for maintaining the rate of profit on the special savings certificates.

The rate of profit was also retained on bahbood, pensioners and Shuhada family certificates.

The rate of profit on savings accounts will also remain the same.

The notification, released by the Federal Finance Ministry, said that the new rates of profit will be applicable from Thursday (June 17).

Reporter Waqas Azeem