The federal government has announced a reduction in profit rates for various National Savings schemes, as confirmed by a notification issued by the Ministry of Finance.
Effective September 25, 2024, the new rates will impact savings accounts, special savings accounts, and defense savings schemes, all of which will decrease profit rates.
In addition, regular income certificates and welfare savings certificates will also offer lower returns than previously available.
The notification highlights that the annual profit for pensioners and martyr family welfare accounts will also be cut.
Specifically, the profit for pensioners’ benefits and martyr family welfare accounts has been reduced from 15.36% to 14.16%. Similarly, welfare savings certificates will now yield an annual profit of 14.16%, while the profit rate for regular income certificates has decreased from 14.52% to 12.72%.
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