The government has decreased the rates of profit on national savings certificates and schemes by up to 150 basis points (bps).
The profit rates have been decreased on Sarwa Islamic Savings Accounts (SISA), Savings Account (SA) and Short Term Savings Certificates (STSC).
The rate of return on SA has decreased by 150 bps to 19 percent, while the rate of return on STSC has been slashed by 134 bps to 17.9 percent.
The profit rate on SISA is down by 150 bps at 19 percent.
| Scheme | Latest Rate | Previous Rate | Change (bps) |
|---|---|---|---|
| Savings Account (SA) | 19% | 20.5% | -150 |
| Short Term Savings Certificates (STSC) | 17.9% | 19.24% | -134 |
| Sarwa Islamic Savings Account (SISA) | 19% | 20.5% | -150 |
So lazy, new rates were announced on 7th of August and today is 12th.