The federal government has announced a reduction in interest rates on various investment schemes of National Savings and has implemented new rates. This decision will be applicable to account holders investing in the relevant schemes.
According to the announcement issued, the annual interest rate on the Behbood Savings Certificate and Pensioners Benefit Account has been reduced to 12.96 percent. Similarly, the annual interest on the Shuhada Family Welfare Account will now be 12.96 percent.
The government has also revised the monthly interest rate of Regular Income Certificate to 11.52%. Under the new rate, an investor will get a profit of Rs 960 per month on an investment of Rs 100,000.
The announcement further states that the interest rate on the special savings certificate has been fixed at 11.20% for the first six months and 12.60% for the next six months.
According to financial experts, the change in the interest rate of national savings schemes is usually related to the overall economic situation of the country, inflation rate and interest rate. They say that after the new rates, investors can re-evaluate their investment strategy, while further changes in the interest rate of these schemes are also possible in case there is a change in the interest rate in the future.