Significant changes to the profit rates of several National Savings Plans have been announced by the federal government in a notification that goes into effect right now.
The action is a part of regular adjustments that are in line with the state of the economy, including policy rates and inflation.
The announcement states that the average return on Special Savings Accounts is 10.77%, while the rate of interest on Regular Income Certificates has been set at 11.16%.
The Behbood Savings Certificates and Pensioners’ Benefit Accounts, which once provided some of the greatest yields, have significantly declined. Thousands of retired people who depend on these accounts for their monthly income may be impacted by the drastic reduction in the yield on both plans, which went from 16.1% to 13.20%.
