National Savings is one of the original institutions in the country with a legacy of more than 140 years
ISLAMABAD:
The federal government has reduced profit rates on various National Savings Pakistan schemes, according to a notification issued on Saturday. Under the revised rates, the annual profit on the Behbood savings certificate and the Pensioners’ Pension Account is set at 12.96%.
The notification said that the monthly profit on the regular income certificate has been reduced to 11.52%. As a result, an investment of Rs 100,000 in the scheme will now yield a monthly profit of Rs 960.
It also stated that the profit on the Special Savings Certificate is set at 11.2% for the first six months and 12.6% for the remaining six months. According to the notification, the annual rate of profit on Shuhada Family Welfare Account has also been revised to 12.96%.
National Savings is one of the original institutions in the country with a legacy of more than 140 years, originating with the promulgation of the Government Savings Bank Act in 1873.
It seeks to promote and inculcate the habit of thrift for the mobilization of savings and is the institution of choice for small savers.
