Rate of profit on National Savings certificates enhanced

By: News Desk      Published: 02:28 PM, 21 Jan, 2021
Rate of profit on National Savings certificates enhanced

The government has raised the rates of profits on National Savings Certificates after noticing a decline in the investment, reported 24NewsHD TV channel on Thursday.

The rate of profit on National Savings Certificates has been increased and the Ministry of Finance has issued a notification in this regard which will be effective from January 21.

The notification said that the rate of return on Defence Savings Certificates has been enhanced from 8.49 percent to 9.42 percent while the rate of return on Regular Income Certificates has been increased from 8.04pc to 9pc.

According to the announcement, the rate of return on Special Savings Certificates has been revised upwards from 7.77pc to 7.97pc while the rate of return on Behbood Savings Certificates has been increased from 10.32pc to 11.28pc.

Similarly, the rate of return on Pensioners Benefit Accounts has been increased from 10.32pc to 11.28pc while the rate of return on Shuhada Family Welfare Account has also been increased from 10.32pc to 11.28pc.

The notification said that the rate of return on short-term savings certificates has also been increased to 6.76pc for a period of three months while the rate of return for six months has been increased from 6.80pc to 6.82pc and the 12-month rate of return has been increased from 6.80pc to 6.92pc.

According to a Finance Ministry statement, the interest rate on the savings account will remain at 5.5 percent.