The government has announced a reduction in the profit rates for National Savings Schemes, effective December 10, as part of broader changes in economic and financial policies. According to Arif Habib Ltd, these cuts affect various products, with the most significant drop in Savings Accounts, where the profit rate has been lowered by 250 basis points from 16% to 13.5%.
The Regular Income profit rate has also been reduced slightly by 10 basis points, now standing at 12.1%.
For Islamic products, the profit rates for Serwa Islamic Savings Accounts and Serwa Islamic Term Accounts have been cut by 72 basis points to 10.44%.
These adjustments are expected to impact savers who rely on these financial instruments for returns.
In this article:Economic and Financial Policies, National Savings Schemes, Pakistan, reduction in the profit, The Truth International
Written By
Hina Kashif
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