Directorate of National Savings has reduced the profit rates on several national savings schemes, with the new rates coming into effect from February 25.
The profit rate on Special Savings Certificates has decreased by 20 basis points, dropping from 11.20% to 11%. The profit rate on Short-Term Savings Certificates has been reduced by 33 basis points, going down from 11.13% to 10.80%. Similarly, the profit rate on Defence Savings Certificates has fallen by 1 basis point, from 12.15% to 12.14%.
Additionally, the profit rate on Savings Accounts has decreased by 20 basis points, dropping from 11.20% to 11%. The profit rate for Pensioners’ Benefit Accounts has also been reduced by 10 basis points, going from 13.68% to 13.58%, while the same reduction applies to the Shuhada Family Welfare Accounts, bringing their profit rate down from 13.68% to 13.58%.
The profit rate on Sarwa Islamic Term Accounts has decreased by 16 basis points, falling from 9.90% to 9.74%, and the profit rate on Sarwa Islamic Savings Accounts has similarly dropped by 16 basis points, from 9.90% to 9.74%.
These reductions in profit rates are expected to have an impact on investors who rely on national savings schemes for their returns.
