2 min read
The Central Directorate of National Savings (CDNS) profit rates have experienced a significant reduction across most of its savings schemes. This move affects a wide range of products, offering lower returns to investors.
According to details, the Savings Account (SA) has experienced the steepest cut of 200 basis points (bps), bringing the rate down from 13.50% to 11.50%.
Bahbood Savings Certificates (BSC), Pensioner Benefit Account (PBA), and Shuhada Family Welfare Account (SFWA) have seen a reduction of 24 bps, now offering a profit rate of 13.68%. The Defence Savings Certificates (DSC) also experienced a decrease of 9 bps, bringing the rate down to 12.10%.
Other savings products like the Regular Income Certificates (RIC) have been cut by 12 bps, now offering 11.88%, while the Short-Term Savings Certificates (STSC) took a more significant hit, falling by 152 bps to 11.24%.
The profit rate for Special Savings Certificates (SSC) remains at 12.10%, while Islamic savings products, such as the Sarwa Islamic Savings Account (SISA) and Sarwa Islamic Term Account (SITA) for a one-year tenure, now offer a rate of 10.44%.
Lastly, the Special Savings Account (SSA) profit rate has been set at 11.60%, reflecting the overall trend of reduced returns in the latest CDNS profit rates revision.
| Investment Type | Current Rate | Previous Rate | Change (bps) |
|---|---|---|---|
| Bahbood Savings Certificates (BSC) | 13.68% | 13.92% | -24 |
| Defence Savings Certificates (DSC) | 12.10% | 12.19% | -9 |
| Sarwa Islamic Savings Account (SISA) | 10.44% | 11.16% | -72 |
| Sarwa Islamic Term Account (SITA) 1 year | 10.44% | 11.16% | -72 |
| Pensioner Benefit Account (PBA) | 13.68% | 13.92% | -24 |
| Regular Income Certificates (RIC) | 11.88% | 12.00% | -12 |
| Savings Account (SA) | 11.50% | 13.50% | -200 |
| Shuhada Family Welfare Account (SFWA) | 13.68% | 13.92% | -24 |
| Special Savings Account (SSA) | 11.60% | 12.10% | -50 |
| Special Savings Certificates (SSC) | 12.10% | 15.20% | -310 |
| Short Term Savings Certificates (STSC) | 11.24% | 12.76% | -152 |
