The Ministry of Finance has recently announced a reduction in profit rates for various national savings schemes. This change is confirmed in an official notification from the ministry.
According to the notification, the rates for savings accounts, special savings accounts, and defense savings schemes have all been reduced. Additionally, regular income certificates and Bahbood savings certificates will now offer lower returns than before.
National Saving Scheme: New Profit Rates
The profit rates for pensioners’ benefit accounts and Shuhada family welfare accounts have also decreased. The rate for these accounts has dropped from 15.36% to 14.16%. Similarly, Bahbood Savings Certificates will now provide a 14.16% return, while the Regular Income Certificates rate has been slashed from 14.52% to 12.72%.
These new rates will be in effect starting from September 25, 2024, as per the notification from the Federal Ministry of Finance.
For those who rely on these savings schemes, this reduction means a slight dip in earnings, but it’s essential to stay updated on any future changes the ministry may introduce.
