National savings slashes profit rates by up to 2.83%

MG News | January 26, 2024 at 11:20 AM GMT+05:00

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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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