The government has announced a revision of profit rates for National Savings Schemes, effective December 10 (today), resulting in significant reductions across various products, as reported by Arif Habib Ltd.

The most notable decrease occurred in Savings Accounts, where the profit rate was slashed by 250 basis points, dropping from 16% to 13.5%. Regular Income profit rates experienced a smaller reduction of 10 basis points, now standing at 12.1%.

For Islamic products, the profit rates for Serwa Islamic Savings Accounts and Serwa Islamic Term Accounts were lowered by 72 basis points to 10.44%.

Such rate adjustments are part of broader changes in economic and financial policies, affecting savers who depend on such financial instruments for returns.