KARACHI – The government has revised profit rates for several National Savings Schemes. The new rates offer higher returns across multiple savings products.
The revised rates apply to Defence Savings Certificates, Behbood Savings Certificates, and Pensioners Benefit Accounts. They also cover Regular Income Certificates and Special Savings Certificates.
The changes also include Sarwa Islamic Term Accounts. The increases range between 12 and 74 basis points.
New National Savings Profit Rates
| Savings Scheme | Increase | New Rate |
|---|---|---|
| Defence Savings Certificate | 19 basis points | 11.80% |
| Behbood Savings Certificate | 12 basis points | 12.72% |
| Pensioners Benefit Account | 12 basis points | 12.72% |
| Regular Income Certificate | 60 basis points | 11.76% |
| Special Savings Certificate | 74 basis points | 11.82% |
| Sarwa Islamic Term Account — 3 Years | 41 basis points | 11.57% |
| Sarwa Islamic Term Account — 5 Years | 54 basis points | 11.70% |
The Defence Savings Certificate received an increase of 19 basis points. Its revised profit rate now stands at 11.80%.
Behbood Savings Certificates also received a higher return. The rate increased by 12 basis points to 12.72%.
The Pensioners Benefit Account has seen the same adjustment. Its new profit rate has also been set at 12.72%.
The Regular Income Certificate received a larger increase of 60 basis points. Its revised profit rate is now 11.76%.
The Special Savings Certificate recorded the biggest increase among the revised schemes. Its rate rose by 74 basis points to 11.82%.
The previous profit rate for the Special Savings Certificate was 11.08%. The latest revision therefore provides a higher return for investors.
The government has also revised rates for Sarwa Islamic Term Accounts. These accounts are part of the Islamic savings options available through the National Savings system.
The three-year Sarwa Islamic Term Account received an increase of 41 basis points. Its new profit rate is 11.57%.
Meanwhile, the five-year account received an increase of 54 basis points. Its revised rate now stands at 11.70%.
The latest changes affect different categories of savers. These include pensioners, individuals seeking regular income, and investors using Islamic savings products.
National Savings Schemes provide various investment options through certificates and accounts. Profit rates can change based on government revisions and financial conditions.
A basis point represents 0.01 percentage point. Therefore, an increase of 100 basis points equals a one-percentage-point increase.
In other news read more about State Bank Announces Monetary Policy Next Week: Here’s What to Expect
The revised National Savings Schemes rates will determine the returns available under the affected products. Investors can compare the updated rates before selecting a suitable savings option.
