Govt Jacks up National Savings Profit Rates by 150 BPS

The government has revised the profit rate on several national savings certificates and schemes by 36 to 150 basis points.

It has revised the profit rate upwards amid the higher policy rate of the central bank and surge in cut-off yields of secondary market bonds.

The rate of return on Regular Income Certificates (RICs) has gone up by 36 basis points to 12.36 percent. The Savings Accounts’ (SA) rate of return has gone up by 150 basis points to 12.25 percent, and the profit rate on Special Savings has been increased by 60 basis points to 13 percent from 12.4 percent.

Certificate Current Previous Change (BPS)
Special Savings 12.40% 13.00% 60
Regular Income Certificates (RIC) 12.00% 12.36% 36
Savings Accounts (SA) 10.75% 12.25% 150

Other miscellaneous updates on profit rates suggest the rate of return on Bahbood Savings Certificates (BSCs), Shuhada’s Family Welfare Accounts (SFWAs), and Defense Saving Certificates (DSC) will remain unchanged at 14.16 percent. The profit rate on Pensioners’ Benefit Accounts (PBAs) will also remain unchanged at 14.6 percent.

National savings rates are normally issued every two months and are related to the cut-off yield on T-bills and long-term Pakistan Investment Bonds. Current statistics suggest the latest T-bill yields are now about 15.25 percent, 15.25 percent, and 15.50 percent on 3-month, 6-month, and 1-year terms, respectively, while PIB returns are around 14.00 percent, 13.19 percent, and 13.15 percent on 3-year, 5-year, and 10-year terms.

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