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HomeEconomyGovernment slashes profit rates on NSS

Government slashes profit rates on NSS

February 22, 2022 (MLN): The government on Tuesday, revised the profit rates on National Savings Schemes (NSSs) with effect from February 22, 2022.

According to the notification issued by Finance Division, the profit rate has been cut by 12bps to 10.20% per annum on regular income certificates (RICs) while the rate on defence saving certificates (DSCs) declined from 10.40% to 10.32%.

The returns on special savings certificates (SSC) (six-month to 30-month tenor) remained unchanged at 10% while for 3-year tenor, the profit rate has been slashed to 11% from 11.4% earlier, showing a reduction of 4bps.

Likewise, the profit rates on special savings accounts (SSA) moved down from 11.40% to 11%.

On the other hand, the profit rate on pensioners benefit account (PBA), behbood saving certificates (BSC), shuhada family welfare account (SFWA) and saving account (SA) shall remain unchanged till further notification.

Copyright Mettis Link News

 

Posted on: 2022-02-22T23:28:33+05:00

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