The government has changed the rate of return on National Savings Schemes (National Savings Certificates).
The rate of return on Welfare Savings Certificate has been increased from 9.84% to 9.96% while the rate of return on Pensioners Benefit Accounts and Martyrs Family Welfare Accounts has also been increased from 9.84% to 9.96%.
The rate of return on Defense Savings Certificates has been increased from 8.05% to 8.11% while the rate of return on Regular Income Certificates has been increased from 7.44% to 7.60%.
On the other hand, the rate of return on short term savings certificates for a period of 3, 6 and 12 months has been reduced.
The three-month interest rate has been reduced from 7.72% to 6.8% and the 6-month interest rate has been reduced from 7.36% to 6.76%, while the 12-month certificate has been reduced from 7.30% to 6.66%.The reduction in interest rates will take effect from July 2.
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