Latest news with #BahboodSavingsCertificates
Express Tribune
21-05-2025
- Business
- Express Tribune
Profit rates revised for National Savings schemes
The Central Directorate of National Savings (CDNS) has reduced rates of return on several National Savings Schemes (NSS), with cuts up to 100 basis points (bps), it was reported on Wednesday The Savings Account (SA) rate dropped by 100bps to 9.50% from 10.50%, according to Topline Securities. Defence Saving Certificates (DSC) returns fell by 21bps to 11.91% from 12.12%, while Bahbood Savings Certificates (BSC) declined by 24bps to 13.44% from 13.68%. Rates for Pensioners Benefit Account (PBA) and Shuhda Family Welfare Account (SFWA) were also lowered by 24bps each, now standing at 13.44%. Similarly, Regular Income Certificates (RIC) returns decreased by 18bps to 11.52% from 11.70%.
Express Tribune
26-02-2025
- Business
- Express Tribune
Govt lowers interest rates on National Savings Schemes
Listen to article The Central Directorate of National Savings (CDNS) has announced a reduction in the return rates on several of its National Savings Schemes (NSS), effective from February 25, 2025. The adjustments, which vary from 1 basis point (bps) to 33bps, will impact various savings certificates and accounts, providing lower returns to investors. Key changes include a decrease of 10bps in the rate for Bahbood Savings Certificates, which will now offer a return of 13.58% down from 13.68%. Similarly, the rate for Pensioners Benefit Accounts (PBA) has also dropped by 10bps, settling at 13.58%. The Defence Saving Certificates (DSC) will provide a return of 12.14%, a reduction of 1bps from 12.15%. The Special Savings Certificates experienced a 20bps reduction, now offering a return of 11%, while Short Term Savings Certificates (STSC) saw a significant drop of 33bps, with the return now at 10.81%. The Special Saving Account's return has also declined by 20bps, now offering a return of 11%. The Sarwa Islamic Savings Account and Sarwa Islamic Term Account both experienced a 16bps decrease, with their return now set at 9.74%. Additionally, the Shuhada Family Welfare Account (SFWA) saw a 10bps reduction to 13.58%. This move comes after the State Bank of Pakistan lowered its key policy rate by 1% last month to 12%, marking the sixth consecutive rate cut since June 2024. The Monetary Policy Committee cited easing inflation but noted that core inflation remains high.
