Islamabad, Feb 26: The federal government has revised profit rates on National Savings Schemes, reducing returns across various investment options effective January 31, 2024. The adjustment, announced by the Central Directorate of National Savings (CDNS), affects Bahbood Savings Certificates (BSC), Pensioners’ Benefit Account (PBA), Defence Savings Certificates, Special Savings Certificates, Short Term Savings Certificates, and Shuhada Family Welfare Accounts (SFWA).
Islamic savings instruments have also seen a decline, with lower rates introduced for Sarwa Islamic Saving Account and Sarwa Islamic Term Account. According to the updated figures, the profit rate on Bahbood Savings Certificates, Pensioners’ Benefit Account, and Shuhada Family Welfare Accounts has been reduced from 13.68 percent to 13.58 percent.
Similarly, the return on Special Savings Certificates has dropped from 11.2 percent to 11 percent, while savings accounts now yield 11 percent, down from 11.2 percent. Meanwhile, both Sarwa Islamic Savings Account and Sarwa Islamic Term Account have seen returns fall from 9.9 percent to 9.74 percent.
The downward revision comes as part of broader financial adjustments in response to economic conditions. While CDNS has not specified the rationale behind the reduction, it is likely linked to monetary policy shifts and liquidity management efforts. Investors relying on these schemes for stable returns, particularly pensioners and fixed-income individuals, may need to reconsider their financial strategies in light of these changes.
