Profit rates on saving certificates enhanced

The government has revised upwards rates of profit on saving certificates to provide benefit to investors and public to encourage them to invest more in such instruments, reported 24NewsHD TV channel on Friday.

The rate of profit on defence saving, regular income saving, special saving and short-term certificates has been increased.

According to the Central Directorate of National Savings (CDNS), the profit rate on special saving certificates has been raised to 7.77 percent from 6.87 percent. On Defence Saving Certificates, the new rate is 8.49 percent while the old rate was 8.44 percent.

The profit rate on regular income saving certificates enhanced to 8.04 percent from 7.8 percent and on Pension and Shuhada Welfare certificates the rate of profit has been retained.

The rate of profit on Short Term certificates has been increased. The three-month certificates now carry a profit rate of 6.66 percent from 6.12 percent, on six-month certificates the rate went up to 6.80 percent from 6.14 percent and on nine-month certificates the rate of profit increased to 6.8 from 6.2.

The new rates of profit have been enforced from August 28.