The government announced that profit rates for various schemes of national savings will be cut by up to 2 per cent.
On Friday, the Ministry of Finance issued a notification that the new rates will take effect on 4 November.
The rates were revised for the Special Savings Certificate, Defence Savings Certificate, and Regular Income Certificate.
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However, yields on the Behbood Savings Certificate and Pensioners’ Benefit Account — designed to cover senior citizens and pensioners — will also be cut back.
This will also be applicable to family members of martyrs who deposit in Shuhada Family Welfare Accounts in addition to short-term savings certificate holders.
