Government increases profit rates on National Savings schemes

The Ministry of Finance announced on Monday, vide notification, that the government has increased the profit rates on various saving schemes and certificates. Pensioners Benefit Accounts will now yield a 11.52% return instead of 11.28%.

Moreover, the profit Shuhada Welfare Account increased from 11.52%. Special Savings Certificates will now return 8.8% profits, more than the previous rate of 8.4%.

Read: SBP aims to attract USD 1bn from Roshan Digital Accounts

Special Savings Certificate worth PKR 100,000 will give a return of PKR 4,400 annually. Behboob Savings Certificate will see an increase from PKR 940 to PKR 960. Lastly, Regular Income Certificate of PKR 100,000 will return PKR 780 annually.

Regular Income Certificates worth of PKR 100,000 will now return Rs780 annually, an increase from the previous amount of of Rs750. People will get Rs7,400 on Short Term Savings Certificate worth Rs100,000.

Read: Govt to screen investments in National Savings schemes

However, the government has maintained the profit rate on savings accounts.

The notification which revised the profit rates of the above-mentioned certificates will come into effect on 25 March.