The federal government has announced a reduction in profit rates on various National Savings Schemes, effective January 31, 2024. The rates have been revised downward by up to 200 basis points, impacting several key savings instruments.

According to data released by the Central Directorate of National Savings (CDNS), the profit rates have been decreased for Bahbood Savings Certificates (BSC), Pensioner Benefit Accounts (PBA), Regular Income Certificates (RIC), and Shuhada Family Welfare Accounts (SFWA).

The revised rates are as follows:

• Bahbood Savings Certificates (BSC) and Pensioner Benefit Accounts (PBA): Reduced from 13.92% to 13.68%.
• Regular Income Certificates (RIC): Reduced from 12% to 11.88%.
• Shuhada Family Welfare Accounts (SFWA): Reduced from 13.92% to 13.68%.
• Savings Accounts: Dropped significantly from 13.5% to 11.5%.

However, the government has kept the profit rates unchanged for Special Savings Certificates (SSC), Sarwa Islamic Savings Accounts (SISA), and Sarwa Islamic Term Accounts (SITA).