Investment

CDNS Cuts Profit Rates on Savings Schemes by Up to 200 Bps

The Central Directorate of National Savings (CDNS) profit rates have experienced a significant reduction across most of its savings schemes. This move affects a wide range of products, offering lower returns to investors.

According to details, the Savings Account (SA) has experienced the steepest cut of 200 basis points (bps), bringing the rate down from 13.50% to 11.50%.

Bahbood Savings Certificates (BSC), Pensioner Benefit Account (PBA), and Shuhada Family Welfare Account (SFWA) have seen a reduction of 24 bps, now offering a profit rate of 13.68%. The Defence Savings Certificates (DSC) also experienced a decrease of 9 bps, bringing the rate down to 12.10%.

Other savings products like the Regular Income Certificates (RIC) have been cut by 12 bps, now offering 11.88%, while the Short-Term Savings Certificates (STSC) took a more significant hit, falling by 152 bps to 11.24%.

The profit rate for Special Savings Certificates (SSC) remains at 12.10%, while Islamic savings products, such as the Sarwa Islamic Savings Account (SISA) and Sarwa Islamic Term Account (SITA) for a one-year tenure, now offer a rate of 10.44%.

Lastly, the Special Savings Account (SSA) profit rate has been set at 11.60%, reflecting the overall trend of reduced returns in the latest CDNS profit rates revision.

Investment Type Current Rate Previous Rate Change (bps)
Bahbood Savings Certificates (BSC) 13.68% 13.92% -24
Defence Savings Certificates (DSC) 12.10% 12.19% -9
Sarwa Islamic Savings Account (SISA) 10.44% 11.16% -72
Sarwa Islamic Term Account (SITA) 1 year 10.44% 11.16% -72
Pensioner Benefit Account (PBA) 13.68% 13.92% -24
Regular Income Certificates (RIC) 11.88% 12.00% -12
Savings Account (SA) 11.50% 13.50% -200
Shuhada Family Welfare Account (SFWA) 13.68% 13.92% -24
Special Savings Account (SSA) 11.60% 12.10% -50
Special Savings Certificates (SSC) 12.10% 15.20% -310
Short Term Savings Certificates (STSC) 11.24% 12.76% -152
Sponsored
Tech Desk

Share
Published by
Tech Desk
    Sponsored

Recent Posts

Govt Reduces Petroleum Prices in Pakistan Effective March 1, 2025

The Oil & Gas Regulatory Authority (OGRA) has announced new petroleum prices in Pakistan, effective…

4 hours ago

Huawei Unveils Mate 70 Pro Premium Edition with Refined Specs and Competitive Pricing

Huawei has introduced the Mate 70 Pro Premium Edition, set to launch on March 5…

5 hours ago

Government Sets New Office Schedule for Ramadan 2025

Islamabad: The federal government has released the official working hours for public sector offices during…

5 hours ago

Microsoft to Shut Down Skype on May 5, Shifting Focus to Teams

Microsoft will officially discontinue Skype on May 5, 2025, after 23 years of pioneering internet-based…

6 hours ago

BusCaro Secures Funding from Epic Angels to Expand $6.3M ARR Mobility Business in Pakistan

Pakistani mobility startup, BusCaro, has secured investment from Epic Angels, a global network of female…

8 hours ago

Meta Plans Major AI Expansion with Standalone App and Premium Subscriptions by 2025

Meta plans to launch a standalone Meta AI app in the second quarter of 2025,…

10 hours ago