ISLAMABAD – The Central Directorate of National Savings (CDNS) has revised down the profit rate on various savings schemes after the State Bank of Pakistan reduced the interest rate by one percent to 12%.
However, there has been no change in the profit rate for Special Savings Certificates, Sarwa Islamic Term Accounts, and Sarwa Islamic Savings Accounts.
A notification issued by the directorate said the profit rate on Regular Income Certificates has been reduced from 12% per annum to 11.88% per annum.
The profit rate on Behbood Savings Certificates has been decreased from 13.92% to 13.68%, and similarly, the profit rate on Pensioners’ Certificates has also been slashed from 13.92% to 13.68% per annum.
Likewise, the profit rate on Shaheed Families Welfare Accounts has been decreased from 13.92% per annum to 13.68%, while the profit rate on 3-month Short Term Certificates has been reduced from Rs3,190 to Rs2,810 on investment of per Rs100,000.
The profit rate on 6-month Short Term Certificates has been reduced from Rs6,370 to Rs5,660 per Rs100,000 investment. The rate on 1-year Short Term Certificates has been reduced from Rs12,380 to Rs11,380.
The profit rate on Savings Accounts has been reduced from 13.50% to 11.50% per annum.
