Government Raises Profit Rates on National Savings Schemes Effective October 21

ISLAMABAD: The government has announced an increase in profit rates for several national savings schemes, benefiting pensioners, senior citizens, and families of martyrs, effective from October 21.

According to the revised schedule issued by the Central Directorate of National Savings (CDNS), the profit rate for Behbood Savings Certificates, Pensioners’ Benefit Accounts, and Shuhada’s Family Welfare Accounts has been raised to 12.96 percent from 12.72 percent. This adjustment will elevate the monthly profit on an investment of Rs100,000 under these schemes to Rs1,080, up from Rs1,060.

Additionally, the profit rate on Regular Income Certificates has been increased to 12.12 percent from 11.76 percent, resulting in a monthly return of Rs1,010 on an investment of Rs100,000, compared to the previous Rs980. The profit rate for Special Savings Certificates has also been raised to 12 percent from 11.6 percent for the first five profit payments, allowing investors to receive Rs6,000 on an investment of Rs100,000.

This increase in profit rates is expected to provide a much-needed boost to savers, particularly those relying on fixed incomes. It reflects the government’s commitment to enhancing financial returns for its citizens amidst ongoing economic challenges. Stakeholders anticipate that this move could encourage more investments in national savings schemes, thereby supporting the overall economy.