CDNS slashes profit rates on savings schemes by up to 200 bps

MG News | January 31, 2025 at 01:41 PM GMT+05:00

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January 31, 2025 (MLN): The Central Directorate of National Savings (CDNS) has once again reduced profit rates today across most of its savings schemes, with the Savings Account (SA) seeing the steepest cut of 200 basis points (bps), bringing it down from 13.50% to 11.50%, effective from January 31, 2025.

According to the latest revision, Bahbood Savings Certificates (BSC), Pensioner Benefit Account (PBA), and Shuhada Family Welfare Account (SFWA) have all been reduced by 24 bps to 13.68%, while Defence Savings Certificates (DSC) dropped by 9 bps to 12.10%.

Additionally, Regular Income Certificates (RIC) saw a 12 bps reduction to 11.88%, whereas Short-Term Savings Certificates (STSC) took a significant hit, dropping by 152 bps to 11.24%.

However, the remaining schemes were updated earlier, with the profit rate for Special Savings Certificates (SSC) set at 12.10%. Islamic savings products, including the Sarwa Islamic Savings Account (SISA) and the Sarwa Islamic Term Account (SITA) for a one-year tenure, offer a rate of 10.44%.

Additionally, the profit rate for the Special Savings Account (SSA) has been established at 11.60%.

Investment Type	Current Rate	Previous Rate	Change (bps)
Bahbood Savings Certificates (BSC)	13.68%	13.92%	-24
Defence Savings Certificates (DSC)	12.10%	12.19%	-9
Sarwa Islamic Savings Account (SISA)	10.44%	11.16%	-72
Sarwa Islamic Term Account (SITA) 1 year	10.44%	11.16%	-72
Pensioner Benefit Account (PBA)	13.68%	13.92%	-24
Regular Income Certificates (RIC)	11.88%	12.00%	-12
Savings Account (SA)	11.50%	13.50%	-200
Shuhada Family Welfare Account (SFWA)	13.68%	13.92%	-24
Special Savings Account (SSA)	11.60%	12.10%	-50
Special Savings Certificates (SSC)	12.10%	15.20%	-310
Short Term Savings Certificates (STSC)	11.24%	12.76%	-152
Rates per annum
Source: CDNS, Mettis Global

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