The Central Directorate of National Savings (CDNA) has reduced the interest rate on all schemes up to 16 per cent.

The CDNA cut down over 160 base points or 16.40pc on special savings certificates while the interest rate on defence savings certificates is unchanged.

Following the reduction of 96 basis points on the Regular income certificate and 24 basis points on the Behbood income certificates and Shuhuda’s family welfare account each, the consumers can get 15.12pc, 16.08pc, and 16.08pc profit, respectively.

The change will be effective from December 19 onwards.

The revision in the rates of the savings scheme came after the announcement of the Monetary policy which is kept unchanged.

It should be noted that the government used to devote high profit to savings accounts and returns on bonds as compared to savings schemes because these are linked to the State Bank of Pakistan which assists small investors without impacting on government’s annual budget.