Govt revises returns on national savings certificates

• Changes to national savings instruments have been made with immediate effect.
• Shuhada’s Family Welfare and Pensioners’ Benefit Accounts' returns have been moved down to Rs11.04pc from Rs11.52 pc.
• Return on Special Savings Certificates has been moved down from 9pc to 8.8pc.

ISLAMABAD: The federal government has made adjustments to returns on several national savings certificates, Daily Dawn reported Thursday, citing a notification from the Ministry of Finance.

The changes to the national savings instruments will come into effect immediately, the notification said.

Shuhada’s Family Welfare and Pensioners’ Benefit Accounts' returns have been moved down to Rs11.04pc from Rs11.52 pc with effect from May 19.

The return on Bahbood Savings Cer­­tificates has been redu­ced from 11.52pc to 11.28pc, and the profit payable on Defe­nce Savings Certificates has been taken down to 7.68pc from 9.52pc.

Moreover, the return on Special Savings Certificates has been moved down from 9pc to 8.8pc.

"The return on Post Office Savings accounts has been set at 4pc for half year and 8pc per annum for each of the first five periods of completed six months while the return on such accounts for the last period of completed six months has been set at 4.5pc on a half-yearly basis or 9pc per annum," the publication reported.

The return on Regular Income Certificates has been set at Rs360 for Rs50,000 certificate and Rs720 for Rs100,000 certificate, the notification added.