National savings slashes profit rates by up to 2.83%
MG News | January 26, 2024 at 11:20 AM GMT+05:00
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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