Govt revises profit rates on saving schemes


A representational image of Rs1,000 note and Rs5 coins. — AFP/File
A representational image of Rs1,000 note and Rs5 coins. — AFP/File
  • Govt revises rates down within a range of 40-72 basis points for investor’s benefit.
  • CDNS slashes rate of profit on the Pensioner Benefit Accounts, Regular Income Certificates, etc.
  • The new rates came into effect from today.

The government has slashed the rate of profit by 40-72 basis points on various saving schemes, making it difficult to achieve the target of mobilising investments through the schemes from the general public in the current fiscal year.

The Central Directorate of National Savings (CDNS) — which works under the Ministry of Finance — announced on Friday a decrease in the rate of profit on the Pensioner Benefit Accounts, Behbood Saving Certificates, Regular Income Certificates, special savings accounts, and Defence Certificates.

Meanwhile, raised profit rates on savings accounts.

The rate of profit on Pensioner Benefit Account and Behbood Certificate was decreased by 72 basis points each to 12.24% while the rate of profit on Regular Income Certificates was revised downwards by 48 basis points to 10.32%. The new rates came into effect today (February 4).

Rates on special savings accounts were reduced by 40 basis points to 10%, respectively.

The CDNS revised downwards the rate of Defence Certificates to 10.40% from 11.12%. While it raised rates on saving accounts by 1% to 8.25%.

It is pertinent to mention here that the CDNS, which offers saving certificates to individual investors, reinvests the money in government papers like Pakistan Investment Bonds (PIBs) and treasury bills (T-bills).



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