National Saving Schemes: CDNS reduces rates of return
The rate of Short Term Savings Certificate (STSA) reduced by 26 basis points (bps) to 10.14%, brokerage house Arif Habib Limited (AHL) reported.
Similarly, Regular Income Certificates (RIC) will offer a 10.68% return, as compared to 11.16% earlier, a drop of 48bps.
The Defence Saving Certificates (DSC) will offer a return of 11.61%, after a decline of 15bps from 11.76%.
The return on Bahbood Savings Certificates (BSC) declined by 24bps to 12.96% from 13.20%.
National Saving Schemes: CDNS lowers rates of return
Meanwhile, the rates of Pensioners Benefit Account (PBA) and Shuhda Family Welfare Account (SFWA) also lowered by 24bps each, to 12.96% each.
Special Savings Certificate (SSC) and Special Savings Account (SSA) will now offer a return of 10.4% each, amid a drop of 20bps each.
On the other hand, the rates of Serwa Islamic Saving Account (SISA) and Serwa Islamic Term Account (SITA) were up by 19bps each, to 9.94% each.
The National Savings Organisation is Pakistan's largest financial institution, managing a portfolio exceeding Rs3.4 trillion and serving over 4 million customers through a network of 376 branches across the country, administered by 12 Regional Directorates.
The CDNS helps the government finance budgetary deficits and support critical infrastructure projects.
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