A new announcement from the Ministry of Finance states that the federal government has lowered the profit rates for a number of national savings plans.
Millions of small savers nationwide are anticipated to be impacted by the new rates, which go into effect on July 28.
Regular Income Certificates, Defense Savings Certificates, Behbud Savings Certificates, and Special Savings Certificates will now provide lower returns than previously, according to the announcement. Short-Term Savings Certificates, Martyrs’ Family Welfare Accounts, and Pensioners’ Benefit Accounts have all seen their profit rates drastically reduced.
Special Savings Certificates and Accounts now have an annual interest rate of 10.4% instead of 10.6%, while Behbud, Pensioners, and Martyrs’ Families accounts now have an interest rate of 12.96% instead of 13.20%.
