May 20, 2021 (MLN): The government has reduced profits rates on almost all National Saving Schemes with immediate effect, the Ministry of Finance said in a notification.

As per the notification, the profit on Shuhada Family Welfare Accounts and Pensioners Benefit Accounts has been slashed to 11.04% from 11.52%.

Similarly, the return on Bahbood Savings Cer­­tificates has also been redu­ced from 11.52% to 11.28% while profit on special savings certificates has been lowered from 9.2% to 9%.

Moreover, Defense Saving Certificates have their profit dropped by around 1.84% from 9.52% to 7.86%.

The annual profit on short-term savings certificates of Rs 500,000 was also reduced by Rs500 from Rs37,000 to Rs36,500.

The notification also said that the return on the regular income certificate has been set at Rs360 for the Rs50,000 certificate and Rs720 for the Rs100,000 certificate.

Copyright Mettis Link News

41210