The Government has increased the Profit Rates on several National Savings Schemes by up to 100bps. The increase in the profit rates has been announced for Defense Savings Certificates (DSC), Bahbood Savings Certificates (BSC), Regular Income Certificates (RIC), Special Savings Certificates (SSC), and Pensioners Benefit Account (PBA), while profit rates for normal Savings Account (SA) will remain unchanged.
According to the details, the profit rate Defense Savings Certificates (DSC) have been increased by 60bps from 10.32% to 10.92%, while Bahbood Savings Certificates (BSC) will see an uptick in the profit rate by 48bps from 12.24% to 12.72%, and profit rate for Regular Income Certificates (RIC) have been raised by 84bps from 10.20% to 10.00%.
Furthermore, the Special Saving Certificates (SSC) has gotten an increase of 100bps in the profit rate from 10.00% to 11.00%, which is the highest amongst all National Savings Schemes. Meanwhile, the Pensioners Benefit Account (PBA) has also gotten an increase of 48bps in the profit rate from 12.24% to 12.72%, while profit rate for normal Savings Account (SA) will remain unchanged.
National Savings Profit Rates
| National Savings Schemes | Current Profit Rate | Previous Profit Rate | Change (bps) |
|---|---|---|---|
| Defense Savings Certificates (DSC) | 10.92% | 10.32% | 60 |
| Bahbood Savings Certificates (BSC) | 12.72% | 12.24% | 48 |
| Regular Income Certificates (SSC) | 11.04% | 10.20% | 84 |
| Special Savings Account (SSA) | 11.00% | 10.00% | 100 |
| Savings Account (SA) | 8.25% | 8.25% | 0 |
| Pensioners Benefit Account (PBA) | 12.72% | 12.24% | 48 |
It is pertinent to mention that the government had reduced profit rates on different national savings schemes in February in response to the rising inflation.
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