In a major update for investors, National Savings schemes profit rates on most schemes have been revised.
According to details, National Savings has revised the profit rates on various savings schemes. Returns on most schemes have been lowered, while the rate on the one-year Short-Term Savings Certificate has seen a slight increase.
The profit rates on Pensioners’ Benefit Accounts and Behbood Savings Certificates have been reduced by 36 basis points to 12.60%.
The profit rate on Regular Income Certificates has also been cut by 36 basis points to 11.16%, while the rate on Special Savings Accounts has been reduced by 30 basis points to 10.90%.
The profit rate on three-month Short-Term Savings Certificates has been lowered by 26 basis points to 10.86%, while the rate on six-month Short-Term Savings Certificates has been reduced by 28 basis points to 10.86%.
Meanwhile, the profit rate on one-year Short-Term Savings Certificates has been increased by 11 basis points, taking it to 11.28%.
According to the notification, the revised rates will take effect immediately. The changes are expected to affect investors, particularly those who rely on fixed-income returns.
