Profit rates of saving schemes upwardly revised

The Central Directorate of National Savings (CDNS) has upwardly revised the profit rates of the saving schemes as Special Saving Certificates have gone up from 11.67 percent to 11.87 percent. The profit rates of Regular Income Certificate (RIC) have been increased from 11.76 percent to 12.12 percent while on the Defence Saving Certificate, the profit rates have been increased from 11.90 percent to 12.33 percent.
On Petitioners Benefit Account/ Behbud Saving Certificate, the profit rates have been increased from 13.86 percent to 14.28 percent and the profit rates of Saving Account have been upwardly increased from 8.25 percent to 8.40 percent. While talking exclusively to Business Recorder, CDNS Director General Zafar Sheikh said.
"We have already made a commitment to provide market-based return to all investors, particularly small savers, pensioners, widows and senior citizens and the increase in profit rates is the indicative of the facts that we are committed to facilitate our clients at our best. Unlike the past, we do review our profit rates after every quarter."
CDNS has already launched a new prize bond of Rs 25,000 in February. The prize bonds being launched by NSS range from Rs 200 to Rs 40,000. The total investment carried out by NSS through prize bonds is Rs 294 billion and the first prize worth Rs 50 million will be offered on this new prize bond. Three prizes worth Rs 15 million will be the second prize while 1,696 prizes worth Rs 0.312 million would be the third prize on the prize bond.