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business
Thursday Jan 21 2021
By
Web Desk

Government increases profit rates on National Saving Schemes certificates

By
Web Desk

  • Profit rate increased on almost all certificates
  • Profit rate on savings account to remain at 5.5%
  • New rates to come into effect from January 21


The government on Thursday issued revised profit rates for National Saving Schemes certificates, according to a notification.

According to the new rates, the profit on the Defence Saving Certificate has been revised to 9.42% from 8.49%. Likewise, profit on Regular Income Certificates has increased to 9% from 8.04%.

The profit rate on the Special Savings Certificate has increased from 7.77% to 7.97%, while the Behbood Savings Certificates profit rate has increased to 11.28% from 10.32%.

Read more: National Savings schemes profit rates slashed by government

The profit rate has also been increased on Pensioners Benefit Accounts to 11.28% from 10.32%. The profit rate has also increased on the Shuhada Family Welfare Account to 11.28% from 10.32%.

The notification also stated that the profit rate has also increased on short term savings certificate. As per the new rates, the profit on the three-month certificate has increased to 6.76%. The profit rate on six-month saving certificate has increased to 6.82% from 6.80%. The profit rate on 12-month short-term saving certificate has increased to 6.92% from 6.80%.

However, the profit rate on the savings account remains at 5.5%.

The notification issued by the finance ministry will come into effect from January 21.