The federal government has announced a reduction in profit rates on National Savings Schemes (NSS) by up to 250 basis points, effective from December 10, 2024. The revised rates were shared by Arif Habib Limited (AHL) and reflect significant cuts across various savings instruments.

The profit rate on the Regular Income Certificate (RIC) has been reduced by 10 basis points, bringing it down to 12.00 percent. Meanwhile, the rate on Saving Accounts has been slashed by 250 basis points to 13.50 percent.

Similarly, the profit rates on Islamic savings products have also been revised downward. The Sarwa Islamic Savings Account (SISA) and Sarwa Islamic Term Account (SITA) have both seen a reduction of 72 basis points, with their rates now set at 10.44 percent.