Rare relief as profits on National Savings Schemes go up
Business
Government increase profit percentage on National Saving Schemes
ISLAMABAD (Dunya News) – The profit percentage on various National Savings Schemes has been increased.
It has come as a rare relief to the people facing economic crunch in the country. The enhanced profit percentages will be implemented from April 10.
According to a notification issued by the government, 16.56% profit percentage has been decided for Martyrs Family Welfare whereas 18.50pc profit will be awarded on savings accounts.
The profit on pensioners’ accounts has been raised to 16.56pc and it has also been enhanced for short-term savings certificates.
The notification further stated that Rs107,000 would be paid against Rs10 million in regular savings certificates. The return on Regular Income Certificates will be 12.84pc now.
The notification said in the exercise of the powers conferred by Rule-II of the Pensioners’ Benefit Accounts Rules, 2003, the Finance Division has announced that the rate of profit on deposits made in Pensioners’ Benefit Accounts and Behbood Savings Certificates will be 16.56 per cent. For Defence Saving Certificates, the rates have been enhanced from 9.29pc to 14.87pc.
