National Savings Schemes returns revised downward
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The Ministry of Finance has announced a downward revision of the returns of various National Savings Schemes, effective from December 20, 2023, reported 24NewsHD TV channel Wednesday.
According to a notification issued by the ministry, the profit rates of Defense Savings Certificate, Pensioners, Welfare and Martyr's Certificate, Regular Income Certificate, Special Savings Certificates, Sarwa Islamic Term Certificate and Sarwa Islamic Certificate have been reduced by 0.12 to 1.64 percentage points.
Defense savings certificate profit is reduced from 14.46% to 14.34%.
Pensioners, Welfare and Martyr's Certificate profit reduced from 16.32% to 16.08%.
Regular income certificate profit was reduced from 16.08% to 15.12%.
The average return on Special Savings Certificates has been reduced from 18.17 to 16.53 percent.
The profit on the five-year Sarwa Islamic Term Certificate has been reduced from 15.72 percent to 15.66 percent.
Three-year Sarwa Islamic Certificate interest reduced from 18.23% to 18.00%.
One-year Sarwa Islamic Certificate yield reduced from 21.80% to 21.37%.
The profit rates of Savings Certificate and Sarwa Savings Account have remained unchanged.
The ministry said that the revision was made in accordance with the prevailing market conditions and the government's fiscal policy.