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HomeBusinessCDNS Adjusts interest rates again to match market trends

CDNS Adjusts interest rates again to match market trends

The Central Directorate of National Savings (CDNS) has recently made changes to the rates of return across various National Savings Schemes, marking the fifth adjustment in the past five months.

According to reports from Topline Securities, notable changes include a slight reduction in rates for the Special Savings Certificates (SSC), now standing at 15.70 percent, down by 10 basis points (bps) from the previous 15.8 percent.

Similarly, the Regular Income Certificates (RIC) will now yield a return of 14.64 percent, reflecting a decrease of 12 bps from the prior 14.76 percent. On the other hand, rates for Bahbood Savings Certificates (BSC), Pensioners Benefit Account (PBA), and Shuhada Family Welfare Account (SFWA) have been adjusted to 15.36 percent, following a decrease of 24 bps.

In contrast, the Defence Savings Certificate saw a minor decrease of 1 bps, now offering a return of 14.39 percent.

However, Short Term Savings Certificates (STSC) experienced an increase of 24 bps, with rates elevated to 19.24 percent.

Additionally, the Sarwa Islamic Term Account (SITA) will provide a return of 19.1 percent, marking a significant increase of 56 bps.

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The profit rates for the Saving Account and Sarwa Islamic Savings Account (SISA) remain unchanged at 20.5 per cent each.

These adjustments, effective from May 14, 2024, indicate a strategic effort by CDNS to realign returns with current market conditions and investment trends.

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