The Ministry of Finance has confirmed a decrease in the profit rates for various National Savings Schemes, effective from September 25, 2024.
This change will impact many investors and savers across the country.
According to the notification, the rates for several popular savings options—including the Savings Account, Special Savings Account, and Defense Savings Scheme—will be lowered.
Additionally, both the Regular Income Certificate and Welfare Savings Certificate will also see reduced interest rates.
Notably, the annual profit rates for Pensioners Benefit Accounts and Shuhada Family Welfare Accounts will drop significantly. The profitability for these accounts will decrease from 15.36% to 14.16%, making it less appealing for pensioners who rely on these accounts for their financial security.
The adjustment in rates reflects ongoing economic conditions and is part of the government’s broader strategy to manage the financial landscape. For many, these savings schemes represent a vital source of income, particularly for retirees and families relying on welfare benefits.
