Profit rates on savings schemes revised
ISLAMABAD: The government has made adjustments to returns on almost all national savings instruments with immediate effect.
According to notification issued by the Ministry of Finance, the return on Shuhada’s Family Welfare Accounts and Pensioners’ Benefit Accounts have been reduced from 11.52pc to Rs11.04pc with effect from May 19, 2021.
Likewise, the profit payable on Bahbood Savings Certificates has also been reduced from 11.52pc to 11.28pc while return on special savings certificates has been increased from 8.8pc to 9pc.
Also, the return on Defence Savings Certificates has been reduced to 7.68pc instead of about 9.52pc.
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 half yearly basis or 9pc per annum.
It said the profit payable on regular income certificate has been set at Rs360 for Rs50,000 certificate and Rs720 on Rs100,000 certificate.
Published in Dawn, May 20th, 2021
