ISLAMABAD: The federal government reduced National Savings profit rates across several schemes, with revised returns ranging from 11.2% to 12.96%, according to an official notification.
The annual profit rate for the Behbood Savings Certificate, Pensioners’ Benefit Account and Shuhada Family Welfare Account has been fixed at 12.96%.
The Regular Income Certificate rate has been reduced to 11.52% annually. An investment of Rs100,000 will now generate a monthly profit of Rs960 before any applicable taxes or deductions.
The Special Savings Certificate will offer a profit rate of 11.2% for the first six months and 12.6% for the following six months, the notification said. The notification’s effective date or a revised return for other National Savings products.
Read: National Savings Profit Rates Raised From May 26
National Savings operates government-backed certificates and accounts aimed at mobilising household savings. Its history dates to the Government Savings Bank Act of 1873.
Investors should confirm the effective rates, payment terms and tax treatment through the official National Savings notification before purchasing or renewing a certificate.
