Islamabad, Sep 26: The government has significantly decreased the profit rates on various national savings certificates and schemes by up to 375 basis points (bps). This adjustment affects several popular savings instruments, including:
- Bahbood Savings Certificates (BSC)
- Defence Savings Certificates (DSC)
- Pensioner Benefit Account (PBA)
- Regular Income Certificates (RIC)
- Shuhada Family Welfare Account (SFWA)
- Special Savings Certificates (SSC)
Key Changes in Profit Rates:
- The Regular Income Certificate (RIC) rate has been reduced by 180 bps to 12.72%.
- The Special Savings Certificate (SSC) rate has been cut by 310 bps to 12.10%.
- The rates for BSC, PBA, and SFWA are now set at 14.16% each.
- The profit rate on Defence Savings Certificates (DSC) has decreased by 106 bps to 12.51%.
- The Savings Account (SA) rate has dropped by 300 bps to 16%.
- The Sarwa Islamic Savings Account (SISA) has seen a substantial reduction of 375 bps, bringing its rate to 14.25%.
- Meanwhile, the Sarwa Islamic Term Account (SITA) rate has decreased by 211 bps to 14.25%.
These changes are expected to impact savers and investors, reflecting the government’s response to current economic conditions.
