August 07, 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 150 basis points (bps), according to its website.
The latest revision was made on August 07, 2024, for some of the savings schemes. The following table shows changes from May 14, 2024.
Investment Type
Effective From
Current Profit Rate
Previous Profit Rate
Change (bps)
Bahbood Savings Certificates (BSC)
14-May-2024
15.36%
15.36%
0
Defence Savings Certificates (DSC)
14-May-2024
13.57%
13.57%
0
Sarwa Islamic Savings Account (SISA)
07-Aug-2024
19.00%
20.50%
-150
Sarwa Islamic Term Account (SITA)
24-June-2024
18.90%
19.10%
-20
Pensioner Benefit Account (PBA)
14-May-2024
15.36%
15.36%
0
Regular Income Certificates (RIC)
14-May-2024
14.64%
14.64%
0
Savings Account (SA)
07-Aug-2024
19.00%
20.50%
-150
Shuhada Family Welfare Account (SFWA)
14-May-2024
15.36%
15.36%
0
Special Savings Account (SSA)
24-June-2024
15.60%
15.70%
-10
Special Savings Certificates (SSC)
24-June-2024
15.60%
15.70%
-10
Short Term Savings Certificates (STSC)
07-Aug-2024
17.90%
19.24%
-134
Rates per annum
The profit rates for Sarwa Islamic Savings Account (SISA), Sarwa Islamic Term Account (SITA), Savings Account (SA), Special Savings Account (SSA), Special Savings Certificates (SSC), and Short Term Savings Certificates (STSC) were reduced by 150bps, 20bps, 150bps, 10bps, 10bps, and 134bps, respectively.
Meanwhile, the profit rates on Bahbood Savings Certificates (BSC), Defence Savings Certificates (DSC), Pensioner Benefit Account (PBA), Regular Income Certificates (RIC), and Shuhada Family Welfare Account (SFWA), have remained unchanged at 15.36%, 13.57%, 15.36%, 14.64%, and 15.36%, respectively.
