The federal Finance Department has announced an increase in the profit rates of the National Savings schemes by an average of 0.97 percent, according to a statement released by the Ministry of Finance.
The news about the increase in the profits was announced via a circular to go into immediate effect from 21 January 2021.
The notification said that the rate of return on Defence Savings Certificates has been enhanced from 8.49 percent to 9.42 percent while the rate of return on Regular Income Certificates has been increased from 8.04pc to 9pc.
Similarly, the rate of return on Pensioners Benefit Accounts has been increased from 10.32pc to 11.28pc while the rate of return on the Shuhada Family Welfare Account has also been increased from 10.32pc to 11.28pc.
According to a Finance Ministry statement, the rate of return on Special Savings Certificates has been revised upwards from 7.77pc to 7.97pc while the rate of return on Behbood Savings Certificates has been increased from 10.32pc to 11.28pc.
The notification said that the rate of return on short-term savings certificates has also been increased to 6.76pc for a period of three months while the rate of return for six months has been increased from 6.80pc to 6.82pc and the 12-month rate of return has been increased from 6.80pc to 6.92pc.
However, the interest rate on the savings account will remain at 5.5 percent
Source: Propakistani