The Central Directorate of National Savings (CDNS) has recently revised the returns on several savings schemes, effective from February 21, 2024. This adjustment marks the third consecutive alteration in profit rates within the past two months, signaling a proactive approach by CDNS to align with market trends.
Among the modifications, the Special Savings Certificates (SSC) now offer a return of 15.6%, following a reduction of 40 basis points (bps) from the previous 16%. Similarly, the Bahbood Savings Certificates (BSC), Pensioners Benefit Account (PBA), and Shuhada Family Welfare Account have seen a decrease of 72 bps, settling at a return rate of 15.36% compared to the prior 16.08%.
In line with these adjustments, the Defence Saving Certificates (DSC) now yield a return of 13.67%, reflecting a decline of 55 bps from the former 14.22%. Additionally, the Short Term Savings Certificates (STSC) have been revised downwards by 58 bps, offering a return of 19.76% compared to the previous 20.34%.
The Regular Income Certificates (RIC) have also undergone a reduction, now offering a return of 14.64% from the earlier 15%, marking a decrease of 36 bps. Conversely, rates for Savings Account, Sarwa Islamic Term Account, and Sarwa Islamic Saving Account remain unaffected by these adjustments.
These alterations come in the wake of the State Bank of Pakistan (SBP) maintaining its key interest rate at 22% during its recent monetary policy committee meeting, while hinting at potential future rate adjustments. The CDNS’ responsive approach underscores its commitment to adaptability and alignment with broader economic strategies, ensuring continued value and stability for investors in Pakistan’s savings schemes.
 has recently revised the returns on several savings schemes, effective from February 21, 2024. This adjustment marks the third consecutive alteration in profit rates within the past two months, signaling a proactive approach by CDNS to align with market trends.){kind=link}