The federal government in view of increasing trend in the interest rate scenario and in line with the policy of the government to offer comparative market based rates to investors of National Savings Schemes has enhanced the rate of profit on these Schemes with effect from October 1.
The rates for Special Savings Certificates, Regular Income certificates and Defence Saving Certificates have been enhanced from 11.67 percent 12.00 percent and 12.15 percent, 12.36 percent and 12.60 percent p.a. respectively, says a press release. The profit rate of Savings Accounts has also been enhanced from 8.50 percent to 8.75 p.a., which the rates on schemes of Pensioners Benefit Accounts and Bahbood Savings Certificates have been fixed at 14.64 percent in line with the policy of offering subsidised rates to specialised segment of the society.
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