National Savings increase profit rates for various certificates

KARACHI: National Savings on Monday revised profit rates for various saving certificates after 14 months, according to a senior official.

Director General (DG) National Savings Zafar Masood said that profit percentage on Behbood Savings Certificates has been increased by 0.72 per cent. After the increase, certificate holders would receive 10.08 per cent profit on their investment, compared to previously in place 9.36 per cent.

The same 0.72 per cent revision was made for Pensioners Benefit Accounts, Masood said.

The profit percentage of Defence Saving Certificates was hiked by 0.56 per cent, taking it to 8.10 per cent profit on investments, according to the DG National Savings.

A 0.77 per cent increase was approved for Special Savings Certificates, which took the profit rate to 6.80 from 6.03 per cent previously.

The highest increase in profit rate was made for Regular Income Certificate i.e. 1.09 per cent. Investors would now receive 7.63 per cent profit on their investment compared to previously in place 6.54 per cent.

On Savings Accounts, the profit rate was hiked by 0.55 per cent, taking it to 4.50 per cent of the total investment made. Previously, certificate holders received 3.95 per cent profit.

Meanwhile, the Federal Board of Revenue (FBR) said that it collected over Rs2922 billion in nine months against Rs2513 billion collected during the same period of the previous fiscal year.