Profit rates on National Savings’ Certificates reduced

saving certificates

ISLAMABAD: The Pakistan government has reduced the profit rates for various national savings certificates/schemes, causing concerns amongst the consumers.

According to a notification issued by the finance ministry, the profit rate on Regular Income Certificates has been reduced to 15 per cent from 15.12 per cent. Likewise, the return on National Saving Certificates has been scaled down to 16 per cent from 16.40%.

Similarly, the profit rate on short-term certificates has been reduced to 20.34 per cent from 20.80 per cent.

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However, the rate of return on Defense Savings Certificates has been reduced to 14.22 per cent from 14.41 per cent.

The returns on Behbood Savings, Pension Benefit Account and Shuhada Family Welfare Account remain unchanged at 16.08 per cent.

In September, the federal government raised the profit rate on national savings’ Sarwa Islamic certificates with effect from September 5, 2023.


The revision in rates of savings schemes comes days before the Monetary Policy Committee (MPC) meeting of the State Bank of Pakistan (SBP), which is scheduled to be held on Monday, January 29 2023.

The SBP kept the key interest rate unchanged at 22% in its last MPC.

The MPC continues to expect headline inflation will decline significantly in the second half of FY24 due to contained aggregate demand, easing supply constraints, moderation in international commodity prices and favorable base effect.

The Consumer Price Index (CPI)-based inflation clocked in at 29.7% on a year-on-year basis in December, marginally higher than the reading in November when it stood at 29.29%. On a month-on-month basis, the reading was up 0.8%.

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