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Mettis Global News

CPI Preview: Inflation to fall below 14% YoY in May

National savings slashes profit rates by up to 2.83%

Savings Mobilized by NSS records net outflow of Rs9.7bn in March
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January 26, 2024 (MLN): The National Savings has announced a revision in the savings account profit rate, whereby the rates have been slashed by up to 2.83%.

The new profit rates are effective from January 26, 2024.

Investment Type Current Profit Rate Previous Profit Rate Change (bps)
Bahbood Savings Certificates 16.08% 16.08% 0
Defence Savings Certificates 14.1% 14.41% -31
Special Savings Certificates 16.00% 16.40% -40
Regular Income Certificates 15.00% 15.12% -12
Short Term Savings Certificates 20.34% 20.80% -46
Savings Account 20.50% 20.50% 0
Pensioner Benefit Account 16.08% 16.08% 0
Shuhada Family Welfare Account 16.08% 16.08% 0
Sarwa Islamic Savings Account (SISA) 20.5% 20.5% 0
Sarwa Islamic Term Account (SITA) 1 year 18.54% 21.37% -283
Sarwa Islamic Term Account (SITA) 3 year 15.40% 18.00% -260
Sarwa Islamic Term Account (SITA) 5 year 15.00% 15.66% -66

Rates per annum

The latest profit rates for Special Savings Certificates as well as Special Savings Accounts are 16.00% for the first five profits and 16.60% for the sixth profit.

Similarly, the rates for Short Term Savings Certificates are 20.28% for 3 months, 20.3% for 6 months, and 20.34% for 1 year.

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Posted on: 2024-01-26T11:20:34+05:00