Latest news with #CentralDirectorateofNationalSavings
Business Recorder
29-07-2025
- Business
- Business Recorder
National Saving Schemes: CDNS reduces rates of return
The Central Directorate of National Savings (CDNS) has reduced the rates of return on a number of its National Savings Schemes (NSS) with effect from July 28, 2025, it was learnt on Tuesday. 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.
Express Tribune
02-07-2025
- Business
- Express Tribune
Govt cuts profit rates for National Savings Schemes
Listen to article The federal government has further reduced the profit rates on National Savings Schemes. According to the Central Directorate of National Savings (CDNS), profit rate on Defence Saving Certificates has been decreased by 15 basis points (bps), from 11.91 per cent to 11.76 per cent. The profit rate on Special Saving Certificates has been significantly reduced by 30bps, bringing it down from 10.90 per cent to 10.60 per cent. For Islamic Saving Account, the profit rate has been reduced by 59bps, setting the current rate at 9.75 per cent. The profit on the Shuhada Family Welfare Account has been reduced by 24bps, and the profit on Regular Income Certificates has also been reduced by 20bps. National Savings Profit Rates — Topline Securities (@toplinesec) July 2, 2025 Earlier in May, the CDNS had reduced rates of return on several National Savings Schemes, with cuts up to 100bps. The Savings Account rate dropped by 100bps to 9.5 per cent from 10.50 per cent, according to Topline Securities. Defence Saving Certificates returns fell by 21bps to 11.91 per cent from 12.12 per cent, while Bahbood Savings Certificates declined by 24bps to 13.44 per cent from 13.68 per cent. Rates for Pensioners Benefit Account and Shuhda Family Welfare Account were also lowered by 24bps each, now standing at 13.44 per cent. Similarly, Regular Income Certificates returns decreased by 18bps to 11.52 per cent from 11.70 per cent.
Business Recorder
02-07-2025
- Business
- Business Recorder
National Saving Schemes: CDNS lowers rates of return
The Central Directorate of National Savings (CDNS) has reduced the rates of return on a number of its National Savings Schemes (NSS) with effect from June 27, 2025, it was learnt on Wednesday. The rate of Saving Account (SA) remained unchanged at 9.50%, brokerage house Topline Securities reported. The Defence Saving Certificates (DSC) will offer a return of 11.76%, after a decline of 15bps from 11.91%. The return on Bahbood Savings Certificates (BSC) declined by 24bps to 13.20% from 13.44%. National Saving Schemes: CDNS revises rates of return downwards Meanwhile, the rates of Pensioners Benefit Account (PBA) and Shuhda Family Welfare Account (SFWA) also lowered by 24bps each, to 13.20% each. Similarly, Regular Income Certificates (RIC) will offer an 11.16% return, as compared to 11.52% earlier, a drop of 36bps. Special Savings Certificate (SSC) will now offer return of 10.6% amid a drop of 30bps. Meanwhile, the rates of Serwa Islamic Saving Account (SISA) and Serwa Islamic Term Account (SITA) also lowered by 59bps each, to 9.75% each.
Business Recorder
23-06-2025
- Business
- Business Recorder
CDNS collects Rs24bn investment in Islamic finance
ISLAMABAD: The Central Directorate of National Savings (CDNS) has achieved the annual collection target of Rs 24 billion in investment in Islamic finance during the last days of the fourth quarter of the Current Fiscal Year, 2024-25. The CDNS has revived the annual collection target of investment in Islamic finance for the Current Fiscal Year 2024-25, which will lead to growth in the country's Islamic economy. 'The National Savings had issued the Islamic bonds for the promotion of the Islamic finance system, which will help the development of the Islamic economy in the country,' a senior official of CDNS told APP here Sunday. Replying to a question, he said the CDNS had achieved the target of Rs 75 billion during the last fiscal year (2023-24) from the Islamic bonds, and that was why it aimed to introduce new dimensions in the Islamic finance sector. 'Islamic finance now has a significant role in the global financial sector. A large part of the economy of many major countries currently includes Islamic finance,' he added. The official said that work was being done on institutional reforms in the CDNS. Given the current market trend in the country, an ambitious target had been set to improve the savings culture further, he added. Replying to another question, he said that the CDNS had set an annual target of Rs 1650 billion for the current Fiscal Year, 2024-25, which would promote the saving culture in the country. He said that the CDNS has realized a target of Rs1.742 trillion in fresh bonds and exceeded 100 percent of the annual target in the last fiscal year 2023-24, from July 1 to June 30th. The National Savings has set an annual target of Rs 1.7 trillion for the year 2023-24; it is encouraging that this year, 'We surpassed 100 percent of the annual target.' The CDNS surpassed the annual target and achieved the target of Rs 1.6 trillion in fresh bonds in the previous fiscal year 2022-23, he said.
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%.
