Government Announces Decrease in National Savings Profit Rates
Welfare savings and regular income certificates to offer lower returns beginning September 25.
The federal government has announced a reduction in profit rates for several National Savings schemes, as confirmed by a notification from the Ministry of Finance.
Effective September 25, 2024, the new rates will affect savings accounts, special savings accounts, and defense savings schemes, all of which will see a decrease in profit rates.
Additionally, regular income certificates and welfare savings certificates will now provide lower returns compared to previous rates.
The notification specifies that the annual profit for pensioners and martyr family welfare accounts will also be reduced.
Specifically, the profit for pensioners’ benefits and martyr family welfare accounts has been lowered from 15.36% to 14.16%. Likewise, welfare savings certificates will now yield an annual profit of 14.16%, while the profit rate for regular income certificates has dropped from 14.52% to 12.72%.
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