The Central Directorate of National Savings (CDNS) decreased profit rates on all national savings schemes. The new rates will be applicable to deposits and investments made with effect from 1 November 2019.
According to the latest development, the profit rate on Defence Saving Certificate was slashed by 2.33 percentage points to 10.68pc while rate of Behbood Saving Certificates and Pensioners’ Benefit Account have been slashed by 2.28pps to 12.48pc.
Furthermore, the rate on regular certificates has been cut by 2.04pps to 10.92pc, Special Saving Certificate by 1.70pps to 11pc while profit on Saving Accounts cut by 2.05pc to 8.20pc
CDNS has revised the profit rates due to the declining secondary market yields on long-term Pakistan Investment Bonds and Treasury-bills.