ISLAMABAD – The National Savings Organization has announced a reduction in profit rates for its various savings schemes, ranging from 0.03% to 1.22%.
The profit rate on the Sarwa Islamic Term Account has been reduced by 1.22% to 16.36%, while the profit rate on the Sarwa Islamic Savings Account has been lowered by 1% to 18%.
Similarly, the profit rate on Short Term Saving Certificates has decreased by 0.68% to 17.2%, and the profit rate on Special Saving Certificates and Special Saving Accounts has been reduced by 0.3% to 15.5%.
The profit rate on Regular Income Certificates has been cut by 12 basis points to 14.52%. Experts suggest that this reduction in profit rates may indicate a further decline in interest rates in the upcoming monetary policy.
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