National Savings Schemes See Decline in Profit Rates- May 2024
In May 2024, the federal government adjusted profit rates across various national savings schemes.
Bahbood Savings Certificates (BSC), Pensioner Benefit Account (PBA), and Shuhada Family Welfare Account (SFWA) experienced a 25 percent decrease, while Defence Savings Certificates (DSC), Sarwa Islamic Savings Account (SISA), and Saving Account Rate (SAR) remained unchanged.
Regular Income Certificates (RIC) dropped by 12 basis points to 14.64%, and Special Savings Certificates (SSC) saw a 10 basis points decline to approximately 15%.
Additionally, Behbood Savings Certificates (BSC), Pensioner’s Benefits Accounts (PBA), and Shuhada Family Welfare Account (SFWA) all decreased to 15.36 percent.
Conversely, the return rate on Special Tawar Savings Certificates (STSC) rose by 24 basis points to 19.24%.
Profit Rates 2024 on National Savings Schemes
| Scheme | New Rate | Old Rate | Difference |
|---|---|---|---|
| BSC | 15.36% | 15.60% | -24bps |
| DSC | 14.39% | 14.40% | -1bps |
| SISA | 20.50% | 20.50% | 0bps |
| SITA 1-Year | 19.10% | 18.54% | +56bps |
| PBA | 15.36% | 15.60% | -24bps |
| RIC | 14.64% | 14.76% | -12bps |
| SAR | 20.50% | 20.50% | 0bps |
| SFWA | 15.36% | 15.60% | -24bps |
| SSC | 15.70% | 15.80% | -10bps |
| STSC | 19.24% | 19.00% | +24bps |
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