The rate of return of National Savings Certificates has been increased. The Ministry of Finance has issued a notification to increase the rate of return on national savings schemes with effect from January 21.

A notification issued by the Finance Ministry said that the rate of return on Defense Savings Certificates has been increased from 8.49 percent to 9.42pc while the rate of return on Regular Income Certificates has been increased from 8.04pc to 9pc.

According to the announcement, the rate of return on Special Savings Certificates has been increased from 7.77pc to 7.97pc while the rate of return on Behbood Savings Certificates has been increased from 10.32pc to 11.28pc.

Similarly, the rate of return on Pensioners Benefit Accounts has been increased from 10.32pc to 11.28pc while the rate of return on Shuhada Family Welfare Account has also been increased from 10.32pc to 11.28pc.

The notification said that the rate of return on short term savings certificates has also been increased to 6.76pc for a period of 3 months while the rate of return for 6 months has been increased from 6.80pc to 6.82pc and the 12-month rate of return has been increased from 6.80pc to 6.92pc.

According to a Finance Ministry statement, the interest rate on the savings account will remain at 5.5pc.