National Savings decreases profit rate on new investment

KARACHI: National Savings has decreased the profit rate on new investment starting from October 1, Geo News reported.

Director General of the National Savings Directorate Zaffar Sheikh said the profit rate would be 12.5% for three year schemes while schemes of five years would have a profit rate of 12.6%.

On defence savings the profit rate would be 12.68% while on Behbood certificates the profit rate would be 14.4%

According to Sheikh it was expected that the government would issue a prize bond of Rs 25,000 which would have a first prize worth Rs 10 million.