Govt revises national savings profit rates

Islamabad: The federal government has made changes to profit rates on national savings schemes, increasing returns on some certificates by up to 0.7% while lowering the savings account rate by 1%.

The changes were made following the State Bank of Pakistan's decision to keep the policy rate at 12%.

Officials from the Central Directorate of National Savings (CDNS) confirmed that the Short-Term Savings Certificate (STSC) rate has increased by 0.15%, rising from 10.81% to 10.96%. The Defence Savings Certificate (DSC) now offers 12.15%, an increase of 0.01%. Meanwhile, the Pensioners' Benefit Account, Bahbood Savings Certificate, and Shuhada Family Welfare Account have seen a 0.10% increase, bringing the rate to 13.68%.

For Sarwa Islamic Term Account (SITA) and Sarwa Islamic Savings Account (SISA), the return has risen by 0.7%, from 9.74% to 10.44%. However, the savings account return has been reduced by 1%, dropping from 11.5% to 10.5%.

These changes aim to align national savings returns with the country’s economic policies and help manage liquidity in the financial sector.