An important update has emerged for investors in National Savings schemes, as profit rates on most schemes have been reduced.
According to details, National Savings has revised the profit rates on various savings schemes. Profit rates on most schemes have been reduced, while a slight increase has been recorded only in the rate for the one-year Short-Term Savings Certificate.
The profit rate for the Pensioners Benefit Account and Behbood Savings Certificates has been reduced by 36 basis points to 12.60 per cent.
The profit rate on Regular Income Certificates has also been cut by 36 basis points to 11.16 per cent, while the rate for the Special Savings Account has been reduced by 30 basis points to 10.90 per cent.
The profit rate on three-month Short-Term Savings Certificates has been reduced by 26 basis points to 10.86 per cent, while the rate on six-month Short-Term Savings Certificates has been cut by 28 basis points to 10.86 per cent.
Meanwhile, the profit rate on one-year Short-Term Savings Certificates has been increased by 11 basis points, bringing the rate to 11.28 per cent.
According to the notification, the revised rates will take effect immediately. The changes are expected to affect the income of targeted investors, particularly those relying on fixed-income investments.