LAHORE: National Savings has revised the profit rates on several savings schemes, with most schemes seeing a reduction in returns. However, the profit rate on the one-year Short Term Savings Certificate has been increased slightly.
According to the revised rates, the profit rate on Pensioners Benefit Accounts and Behbood Savings Certificates has been reduced by 36 basis points, bringing it down to 12.60%.
Similarly, the profit rate on Regular Income Certificates has been cut by 36 basis points to 11.16%, while the rate for Special Savings Accounts has been reduced by 30 basis points to 10.90%.
The profit rate on three-month Short Term Savings Certificates has been lowered by 26 basis points to 10.86%. The rate for six-month Short Term Savings Certificates has also been reduced by 28 basis points to 10.86%.
In contrast, the profit rate on one-year Short Term Savings Certificates has been increased by 11 basis points, taking the rate to 11.28%.
According to the notification, the revised National Savings profit rates will take effect immediately.
The changes are expected to affect the income of investors who rely primarily on fixed-income savings, particularly those investing in schemes whose rates have been reduced.
