CDNS slashes profit rates on majority National Saving Schemes

News Image

By 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 125,627.31
258.99M
1.00%
1248.25
ALLSHR 78,584.71
1,142.41M
1.16%
904.89
KSE30 38,153.79
69.25M
0.63%
238.06
KMI30 184,886.50
91.38M
0.01%
13.72
KMIALLSHR 53,763.81
554.57M
0.54%
290.61
BKTi 31,921.68
33.15M
1.78%
557.94
OGTi 27,773.98
9.65M
-0.40%
-112.21
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 107,770.00 108,105.00
107,505.00
-465.00
-0.43%
BRENT CRUDE 66.37 66.63
66.35
-0.37
-0.55%
RICHARDS BAY COAL MONTHLY 97.00 97.00
97.00
1.05
1.09%
ROTTERDAM COAL MONTHLY 107.65 107.65
105.85
1.25
1.17%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 64.69 65.02
64.68
-0.42
-0.65%
SUGAR #11 WORLD 16.19 16.74
16.14
-0.52
-3.11%

Chart of the Day


Latest News
July 01, 2025 at 06:00 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


June 30, 2025 at 11:55 PM GMT+05:00

TRG: Dominos Tumbling for the Management



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg