A reduction in the profit rates for different National Savings Schemes will take effect on September 25, 2024, according to confirmation from the Ministry of Finance.
Numerous savings and investors around the nation will be impacted by this shift.
The warning states that there would be rate reductions for a number of well-known savings choices, such as the Defense Savings Scheme, Special Savings Account, and Savings Account.
In addition, interest rates on the Welfare Savings Certificate and Regular Income Certificate will be lowered.
Notably, there would be a notable decline in the annual profit rates for Shuhada family welfare accounts and pensioners benefit accounts. Pensioners who depend on these accounts for their financial stability will find them less enticing as a result of the accounts’ decline in profitability from 15.36% to 14.16%.
