Welfare Savings Certificates and Martyrs Families Welfare Accounts Profit Rate Increased to 12.96% Photo: File
Islam Abad: The federal government has also increased the rate of return on national savings schemes by one per cent as a result of the increase in interest rates by the State Bank of Pakistan.
The Ministry of Finance has issued a notification to increase the rate of return on National Savings Schemes, under which the new rate will be applicable from December 10.
According to the new rate of return on National Savings Schemes, the rate of return on Welfare Savings Certificates, Pensioners Benefits Accounts and Martyrs Families Welfare Accounts has been increased to 12.96%, Special Savings Certificates and Special Savings Accounts at 10.60% The rate of return has been increased to 10.80% and the rate of return on savings accounts has been increased to 7.25%.
According to the notification, the rate of return for 3-month short-term savings certificates has been increased to 9.24%, for six-month short-term savings certificates to 9.66% and for one-year short-term savings certificates. The tax has been reduced to 10.26%.