Interest rates on Pakistan National Saving Schemes increased again

The Central Directorate of National Savings (CDNS) has increased interest rates on different saving schemes from October 1. It is learnt on Wednesday that interest rate of Regular Saving Certificates has been raised from 11.52 to 13.30 percent and Special Saving Certificates from 11.25 to 12.8 percent. The enhanced interest rates would be applicable on new investments and schemes.The interest rates on Pensioners’ Benefit Accounts and Behbood Saving Certificates has been increased from 13.56 percent to 15 percent. However, there is no increase in the interest rates of Defence Saving Certificates. An important feature of the revision of rates by the CDNS is that the persons, using old saving schemes, can switch over to the new schemes by paying nominal services charges.
The rates on all saving schemes would be revised from time to time to adjust rates, taking into account market situation. The CDNS has also decided to review interest rates periodically instead of six months. The government would also launch various saving schemes and certificates, including short-term investment scheme, to bridge the gap between short-term and long-term investment schemes. The CNDC also moved a proposal to the government for including disabled in the Behbood Saving Certificates…