The Central Directorate of National Savings (CDNS) has reduced profit rates on various savings schemes following a one-percent cut in the interest rate by the State Bank of Pakistan. However, rates for Special Saving Certificates, Special Saving Accounts, Serva Islamic Term Accounts, and Serva Islamic Savings Accounts remain unchanged.
As per a notification issued by CDNS on Thursday, the profit rate for Regular Income Certificates has been lowered from 12% to 11.88% annually. Similarly, Behbood Savings Certificates, Pensioners’ Certificates, and Shaheed Families Welfare Accounts now offer 13.68% per annum, down from 13.92%.
Short-term savings schemes have also been affected. The return on three-month certificates has dropped from Rs3,190 to Rs2,810 per Rs100,000, while six-month certificates have decreased from Rs6,370 to Rs5,660. One-year short-term certificates now yield Rs11,380 per Rs100,000, down from Rs12,380.
Additionally, the profit rate on savings accounts has been reduced from 13.50% to 11.50% annually, while Serva Islamic Term Accounts and Serva Islamic Savings Accounts remain unaffected.
