Govt reduces profit rates on National Savings schemes
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The Finance Ministry on Tuesday announced that it has reduced rate of return on Special Savings Certificates of National Savings Center Schemes has been reduced from 8.10 percent to 7.1 percent, 24NewsHd Tv Channel reported.
The Ministry of Finance has reduced the rate of return on pensions and welfare accounts by 48 basis points from 10.32 percent to 9.84 percent.
The Ministry of Finance has reduced the rate of return on Special Savings Certificates by 90 basis points.
Finance ministry has reduced the rate of return on regular income savings certificates from 8.28 percent to 7.44 percent. While the ministry also reduced rate of return on Defense Savings Certificates by 49 basis points and now it has come to 8.05 percent from 8.54 percent.
Ministry of Finance has reduced the rate of return on Savings Accounts by 50 Basis Points from 7 percent to 6.50 percent.