The Ministry of Finance has increased the profit rates on various National Savings schemes and issued a notification to this effect. According to the notification, the profit rate on Defence Savings Certificates has been increased by 19 basis points to 11.80 per cent. The rates on Behbood Savings Certificates and Pensioner Benefit Accounts have been raised by 12 basis points, bringing the new rate to 12.72 per cent.
The profit rate on Regular Income Certificates has been increased by 60 basis points to 11.76 per cent, while the rate on Special Savings Certificates has been raised by up to 74 basis points to 11.82 per cent.
Meanwhile, the profit rate on the three-year Sarwa Islamic Term Account has been increased by 41 basis points to 11.57 per cent, while the rate on the five-year plan has been raised by 54 basis points to 11.70 per cent.
The notification shows that the Special Savings Certificate recorded the biggest increase, with its profit rate rising by 74 basis points to 11.82 per cent. The Regular Income Certificate rate was increased by 60 basis points to 11.76 per cent, while the Defence Savings Certificate rate rose by 19 basis points to 11.80 per cent.
The profit rates for Behbood and Pensioner Certificates, which are widely used by pensioners and widows, were also increased by 12 basis points. Their revised rate now stands at 12.72 per cent, the highest among the schemes covered by the latest revision.
The notification also includes revised rates for Islamic savings products. The profit rate on the Sarwa Islamic Term Account for three years was increased by 41 basis points to 11.57 per cent, while the five-year account saw a 54-basis-point increase, taking its rate to 11.70 per cent.