Business Desk
Feb 22, 2024
Keeping in view the current inflation reading — which clocked in at 28.3% in January 2024 — and the 22% monetary policy rate, the Government of Pakistan has slashed the rate of profit by 40-72 basis points (bps) on various saving schemes.
It should be noted that the Central Directorate of National Savings (CDNS) — which works under the Ministry of Finance — has slashed the profit rates on national savings for the third time in two months making it difficult to achieve the target of mobilising investments through the schemes from the general public in the ongoing fiscal year.
Read more: Prize bonds 2024 draw — How to claim prize money?
The CDNS has announced a decrease in the rate of profit on the Defence Saving Certificates, Behbood Saving Certificates, Regular Income Certificates, Special Saving Certificates, and Shuhada Family Welfare Account.
The revised rates came into effect on February 21, 2024.
Profit rates national savings
| Current | Previous | Change | |
| Defence Saving Certificates (DSC) | 13.67% | 14.22% | -55bps |
| Bahbood Saving Certificates (BSC) | 15.36% | 16.08% | -72bps |
| Regular Income Certificates (RIC) | 14.64% | 15% | -36bps |
| Special Saving Certificates (SSC) | 15.6% | 16% | -40bps |
| Savings Account (SA) | 20.5% | 20.5% | — |
| Pensioners Benefit Account (PBA) | 15.36% | 16.08% | -72bps |
| Short-Term Savings Certificate | 19.76% | 20.34% | -58bps |
| Shuhda Family Welfare Account | 15.36% | 16.08% | -72bps |
| Sarwa Islamic Term Account | 18.54% | 18.54% | — |
| Sarwa Islamic Savings Account | 20.5% | 20.5% | — |
