ISLAMABAD – The federal government has revised the profit rates on National Savings Schemes. According to the changes, the profit rate on savings accounts remains unchanged, while profit rates on all other savings schemes have been reduced. However, the profit rates for Sarwa Islamic Term Accounts and Sarwa Islamic Savings Accounts have been increased.
The National Savings Department has issued a notification stating that the revised profit rates will take effect from July 28.
According to the notification:
The profit rate on Special Saving Accounts and Defence Saving Certificates has been reduced to 10.4%.
The profit rate on Regular Income Certificates has been reduced to 10.68%, and on Behbood Saving Certificates and Pensioner Benefit Accounts to 12.96%.
The profit rate on 3-month Short-Term Saving Certificates has been reduced to 10.32%, on 6-month certificates to 10.20%, and on 1-year certificates to 10.14%.
The profit rate on regular Savings Accounts remains unchanged at 9.35%.
Meanwhile, the government has increased the profit rate:
For 1-year Sarwa Islamic Term Accounts to 9.94%,
For 3-year term accounts to 10.30%,
For 5-year term accounts to 10.80%,
And for Sarwa Islamic Accounts to 9.94%.
