National Savings Scheme Bumps Up Profit Rates

+




On Wednesday, the Federal Govt. has issued the notice to increase profit rates by 20 points on the National Saving Scheme. After an increase of 0.7%, the profit on Defense Saving Scheme has increased to 54%.

The profit rate for ‘Bahbood Saving Scheme’ is retained at 9.36% while 6% is the fix rate on ‘Special Saving Certificate’.

After implementation of this decision, a person with investment of 1 Lac on ‘Special Saving Certificate’ will increase the profit from Rs. 5800 to Rs. 6000. After increase of 0.6%, the profit on regular income certificates has increased to 54%.

Most of the senior citizens and retired persons use ‘National Saving Schemes’ for their investment and these schemes provide majority of income for these citizens. Previously, they were receiving good profit rate on their savings but no increase in the profit rates were seen in the past few years that affected these people due to high inflation rate.

Now the govt. has increased profit rates slightly but it is still not matching the constantly rising inflation in Pakistan.

Making more people to invest in these saving schemes is another purpose to increase the profit rates. These new profit rates will apply from February 2017.

 

VN:F [1.9.22_1171]
Rating: 0.0/10 (0 votes cast)
VN:F [1.9.22_1171]
Rating: 0 (from 0 votes)


Advertisement

Comments are closed.