Advertisement
Categories: BusinessNewsPakistan

Government Reduces Profit Rates on National Savings Schemes

Advertisement

The federal government has announced a reduction in profit rates for several National Savings schemes, as confirmed by a Ministry of Finance notification. Effective from September 25, 2024, the revised rates will affect savings accounts, special savings accounts, and defense savings schemes, all of which will see decreased returns.

Among the changes, regular income certificates and welfare savings certificates will now offer lower profit rates. Pensioners and families of martyrs will also experience cuts, with the annual profit on pensioners’ and martyr family welfare accounts dropping from 15.36% to 14.16%.

Similarly, welfare savings certificates will now yield 14.16% annually, while regular income certificates’ profit rates have fallen from 14.52% to 12.72%.

Advertisement
News Desk

Recent Posts

PDA and Arid Agriculture University Sign MoU to Strengthen Industry-Academia Collaboration in Dairy Sector

Pakistan Dairy Association (PDA) and Pir Mehr Ali Shah Arid Agriculture University, Rawalpindi have signed…

2 days ago

ZTBL and PDA Forge Strategic Alliance to Drive Pakistan’s Dairy Sector Modernisation

Zarai Taraqiati Bank Limited (ZTBL) and the Pakistan Dairy Association (PDA) have signed a memorandum…

3 days ago

Trump Cites Five Jets Downed in India-Pakistan Clash, Credits U.S. with Preventing Nuclear Crisis

U.S. President Donald Trump said up to five fighter jets were brought down during the…

1 week ago

Spotify Spotlights Pakistan’s Breakout Star Afusic as the RADAR Artist for Q3

Spotify's RADAR Pakistan returns this quarter, spotlighting Afusic as its latest featured artist. Afusic is…

1 week ago

OICCI Statement on the Recent Loss of Lives Due to Flooding and Extreme Weather Events in Pakistan

The Overseas Investors Chamber of Commerce and Industry (OICCI) is deeply saddened by the tragic…

1 week ago

Stopover in Dubai: what to do, where to eat and where to stay

If you’re planning a Dubai getaway that’s got a little bit of everything, world-class shopping,…

1 week ago