CDNS slashes profit rates on majority National Saving Schemes

MG News | May 14, 2024 at 11:40 AM GMT+05:00

0:00

May 14, 2024 (MLN): The Central Directorate of National Savings (CDNS) has slashed the profit rates on majority of its National Savings Schemes, with the decline going as much as 24 basis points (bps), according to its website.

To note, the decrease comes after it raised profit rates in March, 2024.

The new profit rates are effective from May 14, 2024.

Investment Type	Current Profit Rate	Previous Profit Rate	Change (bps)
Bahbood Savings Certificates (BSC)	15.36%	15.60%	-24
Defence Savings Certificates (DSC)	14.39%	14.40%	-1
Sarwa Islamic Savings Account (SISA)	20.50%	20.50%	0
Sarwa Islamic Term Account (SITA) 1 year	19.10%	18.54%	+56
Pensioner Benefit Account (PBA)	15.36%	15.60%	-24
Regular Income Certificates (RIC)	14.64%	14.76%	-12
Savings Account (SA)	20.50%	20.50%	0
Shuhada Family Welfare Account (SFWA)	15.36%	15.60%	-24
Special Savings Certificates (SSC)	15.70%	15.80%	-10
Short Term Savings Certificates (STSC)	19.24%	19.00%	+24

Rates per annum

The profit rates were slashed on Bahbood Savings Certificates (BSC), Defence Savings Certificates (DSC), Pensioner Benefit Account (PBA), Regular Income Certificates (RIC), Shuhada Family Welfare Account (SFWA), Special Savings Certificates (SSC) by 24bps, 1bps, 24bps, 12bps, 24bps, and 10bps, respectively.

Meanwhile, it raised profit rates on Sarwa Islamic Term Account (SITA) 1 year and Short Term Savings Certificates (STSC) by 56bps and 24bps, respectively.

Moreover, the profit rates on Sarwa Islamic Savings Account (SISA) and Savings Account (SA) remained unchanged at 20.50% and 20.50%, respectively.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	181,675.71 156.48M	-0.75% -1374.09
ALLSHR	109,127.72 323.35M	-0.65% -714.25
KSE30	55,536.19 38.19M	-0.79% -444.47
KMI30	256,647.79 62.39M	-1.16% -3017.02
KMIALLSHR	70,019.71 218.39M	-0.89% -630.99
BKTi	52,694.64 6.85M	-0.18% -92.58
OGTi	35,557.30 9.31M	-1.70% -615.45

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	67,405.00	68,115.00 66,735.00	-310.00 -0.46%
BRENT CRUDE	69.50	69.85 69.43	0.10 0.14%
RICHARDS BAY COAL MONTHLY	96.00	0.00 0.00	0.25 0.26%
ROTTERDAM COAL MONTHLY	102.75	102.75 102.00	1.05 1.03%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
CRUDE OIL - WTI	64.79	65.10 64.70	0.16 0.25%
SUGAR #11 WORLD	13.86	14.12 13.82	-0.26 -1.84%