Govt increases rate of returns on NSS from October 1

SLAMABAD: In response to considerable increase in the comparable Government securities for long, medium and short term, the Federal Government has increased the rates of returns on National Savings Schemes for the investment made from October 1,2013.

According to a statement issued by the CDNS here on Wednesday said that the instant revision is made in the backdrop of current market scenario and in accordance with the Government’s policy to provide market based competitive rate of return to the investors of National Savings.

The new as well previous profit rates of NSS are as under:-

On Special Savings Certificates (R)/Account the profit rate has been increased from current 8.92 percent per annum (pa) to 10.75 % per annum .

Similarly on regular income certificates the profit rate has been increased from 9.48 % p.a to 11.22 % per annum.

The profit rates on Defence schemes has been increased from 10.36 percent p.a to 11.61 percent per annum.

Likewise on Pensioners Benefit Accounts the profit rates have been enhanced from 12.24 percent p.a to 13.44 % per annum.

Similarly on Behbood Saving Certificates, the profit rates have been enhanced from 12.24 % per annum to 13.44 percent per annum.

On Saving accounts, the profit rates have been increased from 6.00 percent per annum to 7.25 percent per annum.

On Short term saving certificates 3-month, the rate of return has been increased from 8.4 percent per annum to 8.85 % per annum.

Similarly on Short term savings certificates 6-month, the rate of return has been enhanced from 8.50 % per annum to 8.95 % per annum and on Short term saving certificates 12-month, the rate of returns have been increased from 8.55 percent per annum to 9.00 percent per annum.

It is pertinent to mention that the press clipping appeared in various sections of media on 01-10-2013 in respect of enhancement in profit rates of National Savings Schemes was incorrect and the release was not issued by the Central Directorate of National Savings (CDNS).

Copyright APP (Associated Press of Pakistan), 2013

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