Govt hikes National Savings profit rate

The Central Directorate of National Savings (CDNS) has revised profit rates on various savings schemes.

The return on Short Term Saving Certificates (STSC) has increased to 10.96% from 10.81%, while Defence Saving Certificates (DSC) now offer 12.15%, up from 12.14%.

Profit rates for the Pensioner Benefit Account, Behbood Savings Certificate, and Shuhada Family Welfare Account have risen to 13.68%. Meanwhile, Sarwa Islamic Term Account (SITA) and Sarwa Islamic Saving Account (SISA) have seen a 70 basis point increase, reaching 10.44%. However, the Savings Account rate has been reduced to 10.5% from 11.5%.

These changes follow the State Bank of Pakistan’s decision to maintain the policy rate at 12% to control inflation and stabilize the economy. Inflation slowed to 1.5% in February, marking the lowest rate in 113 months.