The new rates will be applicable for the next three-year term of the investment scheme, which is a popular product among small and medium-range investors.

According to the updated policy, the profit rate for the first five months has been set at 15.7% per annum. For the sixth and final month of the six-month profit period, the rate will be 16.6% per annum.

The government has also clarified the tax deduction rules for the Special Savings Certificates. Investors who are Active Taxpayers will have a 15% withholding tax deducted from their profits.

Non-filers, or those not in the Active Taxpayer List, will have a 30% withholding tax applied.

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The Special Savings Certificates are a three-year investment scheme offered by the National Savings, allowing investors to earn bi-annual profits on their principal amount.

The latest profit rate revision is aimed at providing an attractive return to savers amidst the evolving economic conditions.