National Certificates have seen a reduction in profit rates as the government adjusts national savings schemes by up to 2% following the State Bank’s recent interest rate cut. However, the profit rates for Special Saving Certificates, Serva Islamic Term Accounts, Serva Islamic Savings Accounts, and Accounts remain unchanged.
According to a notification issued by the Central Directorate of National Savings (CDNS) on Thursday, the profit rate for Regular Income Certificates has been reduced from 12% to 11.88% annually.
The notification further revealed that Behbood Savings Certificates and Pensioners’ Certificates now offer reduced profit rates, dropping from 13.92% to 13.68% annually. Likewise, the profit rate for Shaheed Families Welfare Accounts dropped from 13.92% to 13.68% annually.
The government also revised short-term certificate rates. The profit for three-month certificates fell from 3,190 PKR per 100,000 to 2,810 PKR. Six-month certificates saw a reduction from 6,370 PKR per 100,000 to 5,660 PKR, while one-year certificates decreased from 12,380 PKR to 11,380 PKR per 100,000.
Additionally, the government cut savings account profit rates from 13.50% to 11.50% annually. Despite these adjustments, Serva Islamic Term Accounts and Serva Islamic Savings Accounts maintain their existing rates.
These revisions reflect the government’s financial strategy in response to the central bank’s monetary policy updates.