Govt jacks up profit rates on NSS by up to 100bps
MG News | March 25, 2022 at 10:58 AM GMT+05:00
March 25, 2022 (MLN): The government on Thursday, has increased profit rates on almost all National Savings Schemes (NSSs) with effect from March 25, 2022.
The profit rate has been increased by 84bps to 11.04% per annum on Regular Income Certificates (RICs) from 10.20%, while the rate on Defence Saving Certificates (DSCs) jumped from 10.32% to 10.92%, showing an increase of 60bps.
The returns on Special Savings Certificates (SSC) and Special Savings Accounts (SSA) have been increased to 11% per annum, up by 100bps from 10% for the first five payments, while for the last payment the profit rate has been soared to 11.80% from 11% earlier. To note, SSC and SSA are three-year investment schemes on which profits are paid after every six months.
The returns on Behbood Savings Certificates (BSC), Pensioners’ Benefit Account (PBA), and Shuhada Family Welfare Account (SFWA) were jacked up to 12.72% per annum from 12.24% earlier, up by 48bps.
Meanwhile, profit rates on Saving Accounts (SA) remained unchanged at 8.25%.
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