LAHORE - The National Savings Scheme has revised the rate of returns on its different products ranging from 0.56 percent to 1.09 percent.
The rate of return on the National Savings Schemes have been increased after almost 14 months as the State Bank of Pakistan had been rejecting the bids placed by the banks to buy Pakistan Investment Bonds.
During the recent auction the central bank accepted the bids for three years, five years and ten years.
Behbood Savings Certificates and Pensioner Benefit Accounts have been revised by 0.72 percent to 10.08 percent. Defense savings certificates revised upward by 0.56 percent to 8.10 percent, special savings certificates by 0.77 percent to 6.80 percent. Regular income certificates showed an increase of 1.09 percent to 7.632 percent, while for saving account it has been increased by 0.55 percent to 4.50 percent
The Directorate of NSS also increase rate of profit on short term papers too. The new rate on three month has been increased to 0.32 percent to 5.92 percent, six month by 0.42 percent to 6.04 percent and one year by 0.61 to 6.25 percent.