What are latest changes in saving schemes rates?

Central Directorate of National Savings announced an increase in profit rate on savings and regular accounts

By Web Desk
August 06, 2022
A representational image ofRs5,000 notes. — AFP/File

ISLAMABAD: The government on Saturday increased the rate of profit by 20-125 basis points on various saving schemes, to mobilise high investment in saving products.

The Central Directorate of National Savings (CDNS) — which functions under the Finance Ministry — announced an increase in the rate of profit on savings accounts and regular account.

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Meanwhile, it kept profit rates on Pensioner Benefit Accounts, Behbood Saving Certificates, special savings accounts, and Defence Saving Certificates unchanged.

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The rate of profit on regular income was increased by 24 basis points each to 12.60% while the rate of profit on a savings account was revised upwards by 125 basis points to 13.50%.

Here is a list of rates on other saving certificates:


CurrentPreviousChange (bps)
Defence Saving Certificates12.40%12.40%-
Behbood Saving Certificates
14.16%14.16%
-
Regular Income Certificates12.60%12.36%24
Special Savings Certificates13%13%-
Savings Account13.5%12.25%125
Pensioners Benefit Account14.16%14.16%-

It is important to mention here that the CDNS, which offers saving certificates to individual investors, reinvests the money in government papers like Pakistan Investment Bonds (PIBs) and treasury bills (T-bills).

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