National Savings is one of the country’s leading institutions with a heritage of over 140 years.
ISLAMABAD:
The federal government has reduced the profit rates of various national savings schemes of Pakistan, according to a notification issued on Saturday. According to the revised rates, the annual profit of Behbood Savings Certificate and Pensioners Benefit Account has been fixed at 12.96 per cent.
The notification states that the monthly profit rate on regular income certificate has been reduced to 11.52%. As a result, an investment of Rs100,000 in the program will now yield a monthly profit of Rs960.
He further said that the profit on the special savings certificate has been fixed at 11.2% for the first six months and 12.6% for the remaining six months. According to the notification, the annual profit rate of the Shuhada family’s social protection account has also been revised to 12.96 percent.
National Savings is one of the oldest institutions in the country with a legacy of over 140 years that came into existence with the enactment of the Government Savings Bank Act in 1873.
It seeks to promote and instill the habit of saving to mobilize savings and constitutes the preferred institution for small savers.
